Christows, the private client stockbroker and portfolio manager, has extended the duration of it 1% ...
Christows, the private client stockbroker and portfolio manager, has extended the duration of it 1% discount on the initial charge for its multi-manager portfolio service (MMPS) to the end of December.
Christows says MMPS is the first actively managed discretionary portfolio service to invest in both exchange traded funds (ETFs) and conventional funds: 40% of the portfolio is in ETFs, the remainder in collective funds.
An ETF is a share listed on a stock exchange, where the underlying investment is an index-linked fund.
"With difficult market conditions persisting, we are coming across more and more advisers who are looking to delegate responsibility for selecting funds and managing investment portfolios on behalf of their clients," says Robin O'Grady, director of sales and marketing at Christows.
The minimum investment is £25,000 in cash and or transferred assets. There's a maximum 4% initial charge, of which 3% is for professional advisers. Of the 1% annual charge (up to 1.25% if this includes the transition services), the adviser gets 0.5%.
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