The firm already has a ‘platform managed portfolio service’, launched in June last year in a partnership with Novia, offering five risk-graded model portfolios.
This brought BAM’s traditionally high-net worth discretionary fund management services to advisers with less wealthy clients for the first time.
Now the Berry Managed Portfolio Service offers a choice of six investment strategies – defensive, cautious, balanced, growth, adventurous and balanced passive – each with different levels of risk and expected return to suit an individual’s appetite for risk and their financial objectives.
The balanced passive strategy is based upon but different to Berry’s balanced strategy (40-60% exposure to stock markets), as it is predominantly invested in index or market-tracking funds rather than actively managed funds. It is a lower cost option to access Berry’s asset allocation.
Direct access to Berry’s model portfolio service requires a minimum investment of £20,000 and has no initial charge. The annual charge for the balanced passive strategy is 0.85%, while all the other strategies have an AMC of 1%.
But access through Novia may still be a more attractive prospect, with a minimum lump sum investment of £1,000 and an AMC of 0.30%, although on top of this will be a platform fee.
Jamie MacLeod, Berry’s chief executive officer, said: “Given the strong performance record across our strategies we have had demand from introducers for a facility whereby they can service clients with less than £250,000 to invest.
“We are therefore delighted to make our investment expertise more widely available through the launch of the Berry managed portfolio service.”
