Evercore Pan Asset to launch two more Oiecs

Investment boutique Evercore Pan-Asset is to launch two more Oeics, the PanDynamic Defensive and Aggressive funds, to take its suite of risk -profiled Oeics to four. 

The two funds will join the existing Balanced and Growth funds which were launched in March and will use the same passive income and emerging market strategies.

The strategies, which are part of what the firm calls its dynamic asset allocation process, involve using index-tracking ETFs, enabling the group to pass on a low annual management charge (AMC) of 0.9% for retail investors and 0.4% for IFAs via the institutional share class.

Evercore said the funds were available via the Ascentric wrap platform and were launched due to strong demand from IFAs concerned about the challenges of RDR. 

The new funds will fill in gaps at the low-risk and high-risk ends of the risk spectrum, sitting alongside the existing Balanced and Growth OEIC funds.

The Defensive fund will be invested typically 90% in defensive fixed income assets and 10% in risk assets like equities and property, while Aggressive will normally be invested 100% in risk assets. 

Christopher Aldous, chief executive of Evercore Pan-Asset Capital Management said: ''We launched two of the products from our PanDynamic range as Oeics earlier this year, and have found them to be extremely popular with investors because they offer continuous monitoring of the asset allocation by professionals at a very low fee and use Exchange Traded Funds to hold down the other investment costs.'

Yesterday the group's co-founder John Redwood hit out at rival wealth managers who he said had accused the firm of taking too many risky bets and acting like a hedge fund.