Premier buys IFAlliance Liberation fund range

David Hambidge 450 Index

Premier Asset Management has bought six multi-asset distributor-influenced funds from IFA coalition IFAlliance and plans to risk-rate five of the funds to create a risk-targeted range.

The six funds, known as The Liberation range, were previously outsourced by IFAlliance to various asset managers.

They include the £25m Liberation IV fund, run by North Investment Partners, £31m Liberation VI fund, run by Close Brothers Asset Management, £14m Liberation VII fund, run by Collins Stewart, and the £12m Liberation VIII fund, run by Vestra Wealth.

The £32m Liberation V fund and £20m Liberation Absolute Growth fund were run by Premier director of multi-asset funds David Hambidge (pictured).

Premier, which was the authorised corporate director on all the funds, has rebranded them as Premier Liberation funds.

The funds will be run by the multi-asset team, led by Hambidge, and will be marketed in the first quarter of next year.

The five numbered funds will be risk-rated using Distribution Technology’s rating system. DT will set the asset allocation of the funds and Premier will decide on the investment vehicles that fit the parameters. There will be a leeway of around 1 per cent from the set asset allocation.

DT risk-rates funds on a scale of one to 10. The Premier funds will be risk-rated between four and eight.

Hambidge says the asset allocation will change following the takeover, with a higher weighting to Europe and emerging markets in some of the funds.

IFAlliance, based in the North, was formed in 2005 and aimed to pool a range of white-labelled products and services for members. It is no longer in operation.

Investment Quorum chief executive Lee Robertson says: “Risk-targeted funds are becoming more popular, but they require strict risk controls so there is less flexibility compared to a traditional fund.”