The judges were looking to reward a product that gets the basics right and evidently adds value to t...
The judges were looking to reward a product that gets the basics right and evidently adds value to the adviser's proposition by using innovation to meet a real need.
The panel was attracted to the Money Market Currency account, giving account holders true multi-currency transaction capability and without any conversion charges. The judges were impressed with the broad range of currencies available, not just the big five of sterling, dollars, euro, yen and Swiss francs. Debit cards and multi-currency cheque books are also available as part of the product. They felt it was proof of the fact that a bank does not necessarily have to be a huge player to be able to provide a quality product to its clientbase.
Close Private Bank's All Weather fund also impressed, for its ability to produce absolute returns across market conditions, from a minimum client investment of £10,000, or the dollar or euro equivalents. The vehicle invests across a range of asset classes and investment styles to generate returns. In an instance where the fund underperforms its objective and the share price drops, the annual fee is cut to 1.1% from the usual 1.6%.
Meet the judges
Marcus Brookes, Gartmore
Marcus is deputy head of multi-manager at Gartmore and is lead analyst for North American, Far East Ex-Japan and Global Emerging Markets funds.
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