Fairstone converts four portfolios into funds as MPS momentum builds

The switch involves four portfolios in the Fairstone Systematic Powered by Dimensional MPS made up of globally diversified low-cost portfolios. They have been converted into the IFSL Fairstone Systematic funds, with combined assets under management of about £600m. The MPS portfolios with risk ratings 4 to 7 have been converted – or ‘unitised' – with their assets transferred into the four new multi-asset funds, the firm said. Fairstone added it expected the ongoing charges figure for the portfolios to fall from between 0.42% and 0.43% to a target of between 0.33% and 0.34% for the new ...