SimplyBiz in Verbatim link-up with multi-managers
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SimplyBiz is partnering with multi-managers at five investment firms, including Henderson New Star, Ignis, Architas and Schroders, to run funds for its new investment firm Verbatim.
Last week, Money Marketing, Fund Strategy’s sister publication, revealed that SimplyBiz was launching Verbatim in February. This offers members free access to an independent risk-profiling and financial planning tool powered by Distribution Technology.
Five multi-manager teams, including Henderson New Star’s Craig Heron, Ignis’s Simon Mungall and Schroders’ Andrew Yeadon, will run the funds within predetermined risk and volatility parameters, with an annual management charge of 1.4%.
SimplyBiz is in the final stages of negotiation with the fifth investment partner.
Readers' comments (4)
Kevin Kress | 7 Feb 2010 9:44 pm
New Star 4th quartile for cautious fund.
Ignis underperformed since launch.
Schroders cautious fell 30% in 2008, but is the best of this lot. 59 out of 104 in the sector.
Architas is not 4th quartile, in cautsous sector, but has underperformed dramatically. 77 out of 104 in the sector..... I wonder who they have line up to fill out this roster?????
this is a list chosen by a marketing person, not someone who knows investment.
terrible idea. For this to work, you need a sophisticated risk model...not a motley collection of under-performing managers
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Eban | 8 Feb 2010 4:49 pm
I must say I am surprised by this. Different managers for different risk levels. There will be times when the cautious manager is bullish, and the balanced manager is bearish - so cautious portfolio will end up with more risk than the balanced portfolio. That will be very difficult to explain to clients. Also looking at performance, as Kevin pointed out, it is very poor form the managers selected.
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neil bridge | 18 Mar 2010 1:01 pm
schroders cautious managed fund to the 15th of march 2010 ranks 13th in the sector out of 63 funds up over33% and over one year is up over 38% ranked 14 out of 147. if your time horizon is short dont buy anything with RISK. 2008 was a difficult year for many funds with irrational markets and prices for things. ovver the correct time frame for a product of this nature we have delivered the results.
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Matthew Timmins | 19 Mar 2010 5:55 pm
Hi Gents, I am sorry that you have miss understood how Verbatim works.
The Verbatim funds, which are all run by great fund managers with excellent track records, are run to strict Asset Allocations. This means that the Fund Managers cannot be bullish or bearish when they feel like it.
The Fund Mnagers will manage clients money according to the Asset Allocation output from Distribution Technology (A Times track 100 company that operates a sophisticated risk model).
For further clarification, the fund managers that were selected, out of a tender process of 14 investment houses, all have great track records, a strong brand and great relationships with the IFA community.
Turning to your other point, We are not concerned with sector performance such as the how the funds perform in the Cautious Sector. We believe that these sector definitions are out-dated and inaccurate and clients would much prefer a multi-asset blended portfolio than a fund labelled Cautious which can have up to 60% in volatile equity stocks. Recommending funds on a sector definition is old hat.
Can i suggest Kevin that you give us a call so that we can explain all this to you. It would then save you the trouble of making inaccurate and untrue comments based on a lack of knowledge.
Matt
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