Unit trust provider The WAY Group has launched a new unconstrained fund of funds in a bid to offer a wider range of investment options for its clients.
The WAY MA (mixed asset) Growth Portfolio, launched on Monday, will be managed by Jason Britton on behalf of boutique firm T. Bailey Asset Management in a third party arrangement.
The fund will blend three investment approaches - core, conviction and alternative - which WAY says will enable Britton “far more freedom” to follow his own convictions with risk offset by “appropriate asset blending”.
It will be the first of two fund of funds WAY expects to launch this year, with the WAY MA Cautious Portfolio currently awaiting FSA approval. That product will be managed by multi-manager 'Godfather' John Husselbee, currently at boutique firm North Investment Partners.
The company currently offers three fund of funds vehicles, all of which are managed by Investment Management Selection (IMS).
But WAY chairman Paul Wilcox says the firm’s clients have been calling out for greater investment choice and says this is the reason for the new launch.
“T. Bailey follows an investment philosophy which we find very exciting at this time,” he says.
“We have spent the last few years building a reputation for long-term financial and tax strategies, and we feel now is the time to offer a much wider range of underlying portfolio options going forward.”
The ‘core’ branch of the investment strategy will focus on global funds run by top managers, while the ‘alternative’ component will be dominated by more defensive products.
However, the ‘conviction’ aspect will enable Britton to, as Wilcox says, “let his imagination run wild”.
Britton says: “The idea of capturing some of the best opportunities in today’s fund industry in one unconstrained portfolio is attractive for many investors.”
Minimum investment in the fund is £5,000 with advisers receiving the standard 3% initial and 0.5% trail commission.
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