Elston Portfolio Management has launched a money market model portfolio service (MPS) for advisers following a demand for shorter-term investment solutions.
The firm said the service would provide an alternative to bank deposits and coincide with its multi-asset portfolios. The MPS will also offer a diversified selection of money market funds from leading asset managers. While the underlying holdings within money market funds are very similar, the number of funds within the portfolio is intended to help advisers ensure that client holdings in any single fund do not exceed the Financial Services Compensation Scheme's £85,000 compensation limit. The management fee for the portfolios is 0.05%. The blended ongoing charges figure of the portf...
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