Misys IFA Services, the UK's largest intermediary network, has set up a stand-alone multi-manager se...
Misys IFA Services, the UK's largest intermediary network, has set up a stand-alone multi-manager service called Misys Investment Services (MIS), headed up by Ian Clarke.
The company, which is a separate entity with higher capital adequacy requirements than other elements of the Misys group, offers three fund of funds and will initially focus on providing services to the 4,300 intermediaries within the Misys IFA Services Networks.
However, the intention is to roll that out to the wider intermediary community at a later date and aggressively increase funds under management, creating a competitor in the wider intermediary distribution channel to the multi-manager offerings from the likes of Rothschilds, Hendersons, Credit Suisse, Jupiter, Axa, Edinburgh Portfolio and Lazards.
The funds MIS inherits are the £7.6m Elite Misys Higher Income Portfolio Trust, the £10.1m Elite Misys UK Equity Portfolio Trust and the £3.4m Elite Misys International Portfolio Trust.
The service offers up to 3.5% initial commission and 0.5% renewal. The annual management charge is 1.3%. Minimum investment through an Isa is £5,000 in any single trust.
For further information, contact: 01865 886026.
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