UK - Schemes will be able to set their own asset allocation for balanced mandates with Britannic Asset Management from April.
The fund manager says it is able to offer schemes this option after completing the transfer of its fund administration to AFA Systems at the end of last year.
Britannic claims it now has the flexibility to allow its approximately 200 multi-asset mandate clients – including small schemes – to set individual allocations to different asset classes and geographical regions.
Britannic sales and marketing director Francis Ghiloni said schemes would be able to use the new service without incurring any extra costs.
Ghiloni says that once the asset allocation decisions are made, the cash is invested in a series of underlying pooled funds. This keeps the costs low compared to fees involved with segregated accounts.
He said: “We can tailor-make for clients a balanced fund that has the assets they want to match their liabilities.
“Our balanced funds are already a fund-of-funds that invest in our UK equities funds, our Japanese equities funds and so on. This will do exactly the same, but instead of the choice of investments being driven by us, it’ll be driven by the client.”
Additionally, Britannic’s balanced UK Equity Select Pension Fund has returned 1.6% since its launch in March 2002, compared to the FTSE All-Share which returned -5%.
The fund returned 32.8% against the benchmark figure of 31.6% for the year to the end of January.
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