The asset management boutique Evercore Pan-Asset is extending its range of OEIC funds that use ETFs, following strong demand from IFAs.
The firm says it will add two further funds alongside its existing range, which were launched in March this year, to complete its risk-profiled OEIC fund offering.
The PanDynamic Defensive and Aggressive funds use index-tracking ETFs to implement Evercore's dynamic asset allocation process.
Evercore Pan-Asset Capital Management chief executive Christopher Aldous says: "Our mission as a business is to drive down the costs of investing, to allow investors to take advantage of market gains without having their profits nibbled away by layers of cost from market participants."
The latest funds are based on the PanDynamic Model Portfolios, available via the Ascentric wrap platform, which Evercore says have been popular among IFAs for addressing the challenges of the Retail Distribution Review.
The firm says these funds extend its model process to smaller investors who may not find a wrap platform cost effective.
The Defensive fund will invest around 90% in defensive fixed income assets and 10% in risk assets, such as equity and property. In contrast, the Aggressive fund will normally invest 100% in risk assets.
The funds have a minimum investment of £1,000 for retail investors and an annual management charge of 0.9% for retail investors or 0.4% for IFAs, through the institutional share class.
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