FIS retail brand plans to unveil a number of products in the coming months
Isis, the retail brand of Friends Ivory & Sime (FIS), is to launch an International Oeic early next year.
This will follow the launch next month of the Isis UK and European Oeic, as revealed last week in Investment Week.
The International Oeic will have US, Japan, Far East and global mandates, which will have a bias towards SRI and private equity.
David Norman, head of retail and group marketing at Isis, said the group is close to a decision on the products which will be within the Oeic.
Isis is the retail investment brand of FIS. Institutional products will still be bought through FIS and Friends Provident's unit trust range will remain branded as Friends Provident.
Isis last week confirmed the launch of four sub-funds under the Isis UK and European Oeic. Three are being launched on 3 September. They are the UK Dynamic, UK Smaller Markets Fund and Aim Growth funds. A UK Progressive fund, which will invest in zeros, is to be launched later in the year.
All three funds due for a September launch are Isable and available for minimum investment of £1,000 and lump sum top-ups of £500, or for regular investment from £50 a month. They are also available for Pep transfers. There is an initial charge of 4.75% and an annual management fee of 1.5%. Commission payable is 3% initial and 0.5% trail.
Norman said: 'These funds are designed to reach parts of the market other companies cannot get to. We are the biggest player in the Aim market, with the best track record. The UK Smaller Markets fund, run by Nicholas Malins-Smith, has a strong investment process but it can also get down to pre-flotation finance, in other words, getting a company before it comes to market.'
Norman said that while there are a range of growth-focused, dynamic and select badged funds, very few are actually dynamic in that many of their underlying portfolios tend to have a strong correlation between their assets and the FTSE 100.
The Isis UK and European Oeic is already up and running. On 25 June, a FTSE All-Share Tracker called the Responsible Engagement Overlay UK Tracker was launched. Norman said this fund, the first ethical tracker, has attracted a lot of attention from fund supermarkets and is a portfolio the group will be promoting more to intermediaries later in the year.
In January 2002, FIS will launch a renewable energies and sustainable technologies fund which will have a global mandate and will use the group's SRI capability.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected