JPMorgan Fleming is planning to launch white-labelled unfettered fund of funds products into the UK ...
JPMorgan Fleming is planning to launch white-labelled unfettered fund of funds products into the UK market for intermediaries to distribute under their own branding.
Meanwhile, National Australia Bank (NAB) has launched a multi-manager service aimed at advisers as part of the launch of its UK service, Pivotal.
JPMF currently only has fettered funds of funds, which it refers to as 'closed architecture' in the UK market, but offers unfettered products in France and Italy.
JPMF is talking to intermediary groups to assess market demand and the style of portfolios it is likely to offer in a more traditional fund of funds service.
Jonathan Lowe, senior portfolio manager of JPMF's global portfolio group, said: 'We will work with the individual requirements of distributors who have an attractive selling proposition. We're not going to go out in the marketplace under our own name quite yet.'
NAB is offering IFAs access to the multi-manager platform run by its subsidiary MLC Investment Management.
The Pivotal service is based on a version already available to customers of Yorkshire, Clydesdale and Northern Banks, which are all owned by NAB, via a tied salesforce. This version currently offers six fund options and uses a manager of managers approach.
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