In January this year the group cut the ongoing charge fees (OCF) of the four funds – MGTS IBOSS 1, IBOSS 2, IBOSS 4 and IBOSS 6 – by increasing the use of passive funds from roughly 5% to 30%.
In the time since, it said AUM in the four funds, which each target a particular level of risk, has jumped 500% from £18m to the current level of £104m. At £45m, the largest of the four funds is MGTS IBOSS 4, which is benchmarked against the IA Mixed Investment 40-80% Shares sector.
Chris Metcalfe (pictured), investment and managing director, said: “The growth of the Oeics assets this year has been phenomenal.
“Earlier in the year we listened to advisers and cut our OCF that really pleased advisers, and since then we’ve not looked back. It’s also clear that with stock markets at, or close to record highs, our more defensive position is welcomed by many advisers as they look to protect their clients’ assets in the event of a correction.”
This defensive stance is reflected by the recent addition of Alastair Mundy’s Investec Cautious Managed Fund to the Oeic range. Other holdings include the JOHCM Global Opportunities Fund and a selection of long/short absolute return strategies, with the Oeics adopting a broadly neutral stance in the UK and Europe, and being underweight in the US.
