FundsNetwork has developed five platform-based multi-manager portfolios to support advisers with the increased regulatory burden that the retail distribution review (RDR) threatens to heap on the independent sector. Designed to be used with the platform’ planning tools as well as its full range of tax wrappers, the FIL FundsNetwork PortfolioManager Funds enable advisers to offer their clients a range of unfettered multi-manager funds to match different risk profiles.
The five portfolios can invest across the spectrum of more than 1,100 mutual funds available on FundsNetwork as well as more specialist vehicles typically not open to retail investors. They are to be managed by Fidelity’s multi-manager team.
David Dalton-Brown, head of FundsNetwork, said: This is a major initiative from Fidelity FundsNetwork to help independent advisers tackle the regulatory changes which are expected to sweep across the industry in 2008. phase one is the launch of the PortfolioManager Funds and we are exploring further investment solutions ideas for future development, such as discretionary managed services.
