AJ Bell’s Money Market model portfolio service (MPS) has seen its assets triple over the past year as advisers increase allocations to cash and near-cash holdings amid concerns over stretched equity valuations and continued speculation ahead of the Autumn Budget.
The Money Market MPS – which invests in money market funds, cash, and ultra-short-dated bonds – has become one of the most widely used portfolios on AJ Bell's advised platform, the firm said. The strategy, launched in November 2023, has returned 9.7% to the end of October and carries no annual management charge, with an ongoing charges figure of about 0.1%. AJ Bell said the shift reflects a broader trend of advisers seeking lower-risk parking places for client assets. Speculation around the future of the cash ISA has also pushed more clients towards flexible near-cash instruments, ...
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