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Sanlam unveils advisory managed portfolio service
by Dylan Lobo on Aug 22, 2013 at 10:50
Sanlam Private Investments (SPI) has launched an investment service that sits directly between the advisory and discretionary worlds.
The advisory managed portfolio service is designed for investors who want a degree of control over their investments but also require some guidance on stock selection and asset allocation. While the client will collaborate closely with SPI, they will have ultimate control over their investment decisions.
Under the arrangement, each client will have a dedicated portfolio manager who will assess a range of criteria, including attitude to risk and investment time horizon.
SPI will structure portfolios to meet these needs through a range of equity and fixed income funds along with direct equity holdings. It will also provide clients with access to alternative strategies, which could include a shorter-term tactical trading structure.
SPI will monitor asset allocation on a regular basis, with client communication frequency agreed at the outset. Investors will also have access to SPI’s wealth management team and will be able to draw insights from the firm’s in-house analysts and chief investment officer’s views.
SPI senior advisory stockbroker Andrew Lewis (pictured) said: ‘This service offers the best of both worlds to clients who want a hands-on approach to running their portfolio but who would like access to strategic asset allocation models, in-house research capability and deeper investment expertise.
‘We are finding that demand for this type of service is high as this approach is well suited to the current financial environment – one where markets can be volatile and prone to shocks. The dual attraction is that the client is absolutely in control of investment decisions yet still has all the benefits of having a professional portfolio manager involved.’
Investors need to have a minimum of £250,000 in assets to use the service, which levies a 1% management fee along with a 0.15% custodian fee. Dealing costs are 1% on the first £10,000 in gilts followed by 0.25% on the next £90,000 and 0.1% above this. With all other investments, transactions costs stand at 1% on the first £10,000 and 0.6% thereafter.
The service marks another leg in SPI’s ambitious wealth strategy.
In June, the firm appointed Craig McPherson and Mike Middleton from Barclays’ and Lloyds TSB Private Bank, respectively, to help boost its business drive in the North of England and it is also eyeing the Midlands as part of its regional expansion drive.
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