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Widows sets up four Moms for IFAs to build portfolios

Scottish Widows has established four new equity-based manager of manager funds for IFAs who want to make their own asset-allocation decisions but there are no immediate plans to offer a multi-manager bond fund.

The new funds – multi-manager UK equity growth, multi-manager UK equity focus, UK equity income and multi-manager international equity – form part of Widows’ investment solution range of life and pension funds. The range has four multi-manager ready-made portfolios combining equities and bonds.

The new funds are managed by Swip’s Jeff King, with multi-manager specialist Russell Investment Management as investment adviser. Russell’s role involves research and evaluation of retail and institutional managers around the world, including boutique managers.

Each multi-manager fund will be run through segregated mandates, initially with management groups including Goldman Sachs, Rathbones and boutique manager Mirabaud.
The UK equity growth fund is seen as the core fund while the more aggressive UK equity focus fund will hold fewer stocks.

Marketing manager, investment marketing Penelope Marchant Wink says: “The new funds were a response to popular requests from IFAs who want to do the portfolio building themselves. Although we have no immediate plans for a multi-manager bond fund, the investment solutions range is constantly under review. It already contains a large number of bond funds which we feel is a good, solid range.”

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