Tilney Bestinvest targets expats with UCITS funds range

Tilney Bestinvest, the UK-based wealth manager, is launching a new suite of global multi-asset portfolio funds it says is aimed at international investors and advisers who look after expatriate clients.

Tilney is adding five risk-graded multi-asset UCITS OEIC funds, dubbed the IFSL Tilney Bestinvest Global Multi-Asset Portfolios, or G-MAP for short, to its range of funds, the firm said in a statement on Thursday.

According to Tilney Bestinvest, the G-MAP range will replicate the risk and goal profiles of the firm’s existing, long established £1bn Multi-Asset Portfolio fund range, but without its relative bias towards UK assets. It will be co-managed by Tilney Bestinvest’s chief investment officer, Gareth Lewis (pictured), and its investment office director, Marcel Porcheron.

The new G-MAP funds will initially be denominated in US dollars, but currency-hedged share classes for investors based in sterling, euros and Swiss francs are planned, the firm said in its statement. From now until the end of the month, the launch range will be offered at 100 US cents per share.

Lewis said the company decided to introduce the international-investor-focused range of funds after observing, in its dealings with clients that cater for overseas investors, “a gap in the market for a global multi-asset fund range” that avoided a UK capital markets bias.

Active and global approach

The funds will pursue an active and global approach to asset allocation with allocations to equities, fixed income, property, target absolute return funds and cash.

The five strategies are Defensive, Income, Income & Growth, Growth and Aggressive. The funds will also be made available to UK-based investors wanting via most intermediary platforms. The funds are UCITs compliant and will be domiciled in the UK.

There will be two share classes – one for institutional and the other for retail investors – with annual management charges of 0.75% and 1.5% respectively, Tilney Bestinvest said.

Based in London’s Mayfair district, Tilney Bestinvest was created by the private equity group Permira, which merged two existing businesses, Tilney and Bestinvest, to create it after acquiring them separately. Tilney had previously been the wealth management arm of Deutsche Bank.

In April, it was announced that Tilney Bestinvest was, with the help of its private equity backer, to acquire rival wealth manager Towry for £600m from its own private equity majority share owner, Palamon Capital.

Gary Robinson
Head of Video and Ezines at Open Door Media Publishing. Deputy Editor, International Investment. An experienced journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as a fully qualified IFA, Gary works across both International Investment and InvestmentEurope titles. Previous video production credits include projects on BBC, C4 and SKY.

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