NPI has added an external fund link to Henderson Investors' multi-manager team headed by John Hussel...
NPI has added an external fund link to Henderson Investors' multi-manager team headed by John Husselbee.
This is the sixth link made by NPI on its range of individual pension products. The fund will be benchmarked against the Lipper Balanced Managed fund sector.
Adrian Moore, NPI's investment marketing manager, said the company expects the fund to perform in the top 40% of ranked funds in its sector.
Earlier this month NPI added five other fund links. These are not available on group contracts.
Barings, Newton, and Schroders have been appointed to run balanced managed funds against the Lipper Balanced Managed Fund Sector, while Perpetual and SG Asset Management have been appointed to each run a stock market managed fund with performance measured against the Lipper Stock Market Managed Fund sector.
Unlike the previous fund links, fees for the management of the Henderson fund of funds are not performance based. Hendersons is to receive a 0.25% annual fee to manage the fund. The other layers of charging are 1% for NPI's pension product wrapper and an average of 0.75% in underlying charges in the unit trusts selected by Husselbee.
As with the first five external funds to be launched, NPI made an initial investment of £2m of shareholder capital into the Hendersons multi-manager fund to enable it to begin trading.
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019