De-polarisation is likely to help rather than hinder sales of ABN Amro's new umbrella fund service b...
De-polarisation is likely to help rather than hinder sales of ABN Amro's new umbrella fund service being developed out of its acquisition of Singer & Freidlander's Premier Funds Service.
The new multi-manager approach, which will enable retail investors to buy into a number of strategies in turn buying into a number of ABN Amro funds, should suit IFAs looking to outsource some of the work of staying on top of clients' investment management, says Nick Wells, product and communications director at ABN Amro.
The development of ABN Amro's Premier Funds Service was not based on the de-polarisation proposals, and ABN Amro as a house does not have a particular view on the issue while it is still in the consultative stage, Wells stresses.
But if the proposals as they currently stand go through, the new pressures this would put on intermediaries could end up making funds-of-funds type products more attractive.
That said, the repsponse so far "has been good", Wells adds, with keen interest in the CGT taper relief and VAT exclusion provisions that these types of products can offer.
The Premier Funds Service is expected to be marketed in May after the end of the current fiscal year.
Minimum investment is set at £10,000, with an initial charge of 4% and an annual management fee of 1.25%.
Lack of innovation for solutions
Some 2,000 consumers affected
Achievements, charity work and other happy snippets
Appetite has suffered since Brexit vote
'Failure to pay attention can result in enforcement'