Offshore fund ratings specialist and asset manager Forsyth Partners is set to enter the onshore mark...
Offshore fund ratings specialist and asset manager Forsyth Partners is set to enter the onshore market with the launch of a portfolio management service by the end of the first quarter.
The service, to be called the Discretionary Management Service, will be headed up by Dean Cheeseman and his team, who ran Quilter's portfolio management service before being recruited by Forsyth last summer.
It will be aimed at the high net worth market, with a minimum investment requirement of £250,000, and is to offer investors the opportunity to invest in both onshore and offshore and closed-end funds. It will also make use of tax-efficient wrappers
The upfront fee will be 4%, with 3% of this available to intermediaries as commission.
The annual management charge will be on a sliding scale, ranging from 90 basis points on a typical investment of £500,000 to 45 basis points on £750,000 and above.
Half of the annual management charge will be shared with the intermediary.
The service aims to create bespoke portfolios for each client and will not use any form of modelling, Cheeseman said.
It will be an entirely unfettered fund selection process, he stressed, and will be used on occasions in which a Forsyth fund would be the most appropriate.
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