Ryan Hughes, head of fund selection at AJ Bell Investments, is in charge of picking funds for the mandate, which will invest in passive products to gain exposure to global markets.
Like the rest of the MPS range, Global Growth is benchmarked against Distribution Technology’s Dynamic Risk Planner Risk Ratings and will be managed to stay within risk level eight.
This places the new portfolio at the highest risk level of AJ Bell’s six offerings, with the existing portfolios being run to stay within levels three to seven.
AJ Bell recently announced a price cut for its MPS, with the annual management charge dropping from 0.25% (plus VAT) to 0.15% (plus VAT). The new portfolio is also priced at this level, with the ongoing charge fee of the underlying passive investments coming in at 0.15% to give a total cost of ownership of 0.33%.
Kevin Doran, chief investment officer and managing director at AJ Bell Investments, said: “We recently reduced the price of the MPS as part of our commitment on costs and have now launched this new Global Growth portfolio based on feedback from advisers.
“Many have told us that they have client demand for a portfolio at the higher end of the risk spectrum and we have delivered that, so the service can now cater for a wider range of client requirements.”
