iFunds, a franchise of Raymond James Investment Services, has introduced a global growth fund of funds investing in exchange-traded funds.The MFM iFunds ETF global growth fund provides exposure to single-country or regional ETFs that are weighted according to volatility rather than market cap. The fund, administered by Marlborough Fund Managers, has a £1,000 minimum investment. Selection of ETFs will be based on a software system developed over 16 years by iFunds investment director Nigel Baynes and IT director Paul Hudson. The quant-driven system works on the basis that outperforming assets will perform well for some time. The software recognises when outperformance is deteriorating and will automatically cut positions in those assets. The company says this system recently worked effectively for its commodity fund so that, instead of buying more oil, it was selling its positions. Sales and marketing director Stacey Ash says: “We weight the ETFs in the global growth fund according to volatility rather than market cap, otherwise we could end up with just a lot of a big companies that do not necessarily represent the best value. In our view, weighting the ETFs according to volatility means we end up with better returns and reduces our reliance on major industries.”
Key Retirement Solutions business development director Dean Mirfin says downsizing does not have to be the only route for equity-release clients and he tries to assess the FSA’s compliance view on the matter
On October 1 the Association of Investment Trust Companies is becoming the Association of Investment Companies.
Transfer incentive business is risky and could come back to haunt advisers
HBOS has reshuffled its senior management, with mortgages director David Nicholson taking over as retail distribution director. A replacement is expected to be announced shortly. Nicholson replaces Rob Devey, who is moving to HBOS’s insurance and investment unit. A group of former Alexander Forbes directors has set up a professional indemnity brokerage for IFAs. Prime […]
By Mark Martin, Head of UK Equities, Neptune Investment Management The start of 2016 has been one of the most tumultuous periods in recent years for UK markets, with the FTSE 100 Index briefly entering bear market territory in the middle of January. Fuelled by a collapse in the oil price and escalating concerns over […]
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Workplace savings and pensions business Punter Southall Aspire is to acquire Oxford-based IFA Focus Oxford as it outlines its ambition to set up a national advice service. The acquisition is part of the firm’s plan to integrate its retail advisory arm and corporate business. Focus Oxford has £200m of assets under management and the deal […]
Several independent boards of Baillie Gifford’s investment trust clients have written to the FCA about concerns with new Priips key information document rules. Baillie Gifford’s concerns relate to disclosure rules for the documents. It says these are based on past performance and could lead to investors being misled. Baillie Gifford compliance and legal partner Graham Laybourn […]
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