Barclays in process of moving £4.5bn to MoMs

Currently, the assets are held across several divisions in Barclays, primarily in the fund of fund and segregated mandate format. In addition to Barclay-branded fund of funds there are similar offerings under the private bank and wealth management businesses. There are also L&G branded Barclay funds of funds. Steven Mendel, business development director for Barclays wealth businesses, said clients in existing portfolios are being notified of the changes and offered a switch into the new proposition. Clients are to be offered a variety of scenarios and individual asset allocation wi...