Evercore launches low-cost funds of ETFs

Evercore Pan Asset Capital Management has launched two low-cost funds investing in exchange traded funds (ETFs).

The company's Pan Dynamic Balanced and Pan Dynamic Growth funds will have total expense ratios of 0.6%. The 0.4% annual management charge will initally be rebated for investors who buy the funds before the end of April. 

The funds were previously only available through wrap Ascentric but are now available as Oeics.

They both use asset allocation calls to derive capital growth and income, investing across a range of asset classes via ETFs.

Evercore's chief executive, Christopher Aldous (pictured), said: 'The funds aim to help with the big picture decision of which asset class to invest in, and what proportions - this decision can have a huge impact on whether investors make or lose money.'

The Balanced fund can take higher positions in less-risky assets including bonds, and will typically have around 40% in bonds, 50% in equities and 10% in alternatives.

Meanwhile the Growth fund will usually have around 65% in equities, 25% in alternatives, and 10% in bonds.

Chairman John Redwood said: 'We believe investors want to keep it simple - complexity means more cost, more excuses, more scope to get it wrong. They want good value - they don't want to lose their gains in paying the manager's fees.'