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Ex-Quilter duo launch model portfolio service for GAM
by Emma Dunkley on Feb 11, 2013 at 10:29
GAM said PCA distinguishes GAM’s offering from other collective vehicles and multi-manager funds in the market, by providing cost-effective access in a fund structure while eliminating the requirement for a segregated portfolio.
The account structure also has no restrictions on the number of portfolio rebalances that can be completed on the available asset classes, and is exempt from VAT.
Hepworth said in a statement: ‘We believe the launch of the PCA sets us apart from our industry peers. It saves the adviser from the time-consuming and costly process of setting up a segregated account and the client from high fixed costs and VAT implications, without compromising on detail.
‘Clients are provided with in-depth reporting that shows the individual performance since the date of their investment, detailed breakdowns on allocations and underlying manager allocation and performance.’
Minimum investments range from £25,000 for the segregated accounts and PCA, then £5,000 via the platforms.
Hepworth and McDaid joined GAM from Quilter last year.
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