The new portfolios, which are still in the early planning stages, will have a global, ‘go anywhere’ approach to investing, Cunliffe said.
They will likely run alongside the wealth manager’s recently launched Personal Portfolio Service (PPS) but are designed as a “purer version”, aimed at higher-net worth clients and family offices.
The PPS was set up to serve clients with portfolios worth less than £150,000.
While the five multi-asset PPS funds dedicate 40% of holdings to UK stocks “to make sure that it looks and feels like the type of investment proposition investors going into it will be familiar with,” the ‘purer’ master portfolios will be unconstrained.
“We have the PPS which has constraints around the UK which sits on one side, the other side will have the global unconstrained iteration which will have a lower UK element to it but will have, quite likely, the best risk-adjusted returns we can deliver for the risk we’re given,” Cunliffe said.
“I think it’s going to be a fantastic offering, it’s going to be something that will sit at the heart of what we do day to day within asset management.
“There will be a high degree of consistency between the different lines and investment offering that we have.”
