7IM launches four ETF-based MM funds

The Asset Allocated Passives (AAP) range will incorporate the same investment discipline and structure as the firm’s existing multi-manager offerings, but with a projected total expense ratio of less than 1%. 7IM says the funds, which have no active managers, can provide advisers with a far more precise approach to risk-based asset allocation. It says passives ensure '100% investment, 100% of the time' – as active managers can often be tempted to hold cash or similar-type positions. “AAP is the answer to a difficult question: if the primary determinant of portfolio success is asset alloc...