The risk-rated MI Brewin Dolphin Voyager range will be able to invest between 40% to 90% in equity funds as well as funds that invest in fixed interest securities, alternatives and cash-like instruments.
It will mimic Brewin’s MPS but in a unitised fund structure, which the DFM said combines the positives of its fund of funds structure with the cost savings of a manager of managers approach.
The range will be managed by the in-house investment solutions team, led by David Hood, which also runs the MPS.
The estimated ongoing charges figure will be between 0.78% and 0.82%. The charges on its MPS range are 0.77% for its lower-risk Cautious Portfolio and 0.80% for its higher-risk Global Equity Portfolio.
The launch comes a week after Brewin revealed it had removed VAT from its MPS across its active and passive ranges.
CEO Robin Beer (pictured) said the fund-of-funds launch was about offering more choice to IFAs.
“Since inception in 2008, our managed portfolio service has grown to £4.5bn, proving extremely popular with our intermediaries and their clients,” he said.
“We have continued to innovate in the last 12 years including increasing the number of models and introducing MPS Passive Plus. In 2018, we launched segregated mandates with the best external fund managers in the business and those are the building blocks for this new range.”
MI Brewin Dolphin Voyager will be available on 15 platforms and is anticipated to be the first of Brewin’s solution available on Aegon, Fundsnetwork and Old Mutual.
The five funds are broken down as follows:
- MI Brewin Dolphin Voyager Max 40% Equity Fund
- MI Brewin Dolphin Voyager Max 60% Equity Fund
- MI Brewin Dolphin Voyager Max 70% Equity Fund
- MI Brewin Dolphin Voyager Max 80% Equity Fund
- MI Brewin Dolphin Voyager Max 90% Equity Fund
Correction: An earlier version of this article cited Brewin Dolphin’s MPS charges as ranging from 0.46% to 0.82%. These figures have been updated to reflect both the underlying charge and DFM charge.
