Momentum Global Investment Management is making its restricted Passive Plus managed portfolio service (MPS) available on three platforms.
UK-based advisers will be able to access the MPS on the Abrdn, Aviva Investors and Quilter platforms. Total charges excluding platform fees will be under 0.4%, including the underlying fund selections and MGIMs discretionary fund management charge of 0.15%.
The firm added that the increased focus on value and price under Consumer Duty makes this the “perfect time to offer this service more widely”.
The service offers three portfolios, Cautious, Moderate, and Dynamic. They use predominantly allocate to passive funds, with some active elements where the investment managers feel they add significant advantage. Alternatives such as property and infrastructure will feature.
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The fund selections will be driven by the same research processes as the Momentum Active MPS range, and will include products from firms such as Vanguard, BlackRock, L&G and Fidelity.
MGIM said the strategies combine the simplicity and charging structure of passive funds with active asset allocation.
Alex Harvey, lead portfolio manager, said: “We’re very pleased to introduce our Momentum Passive Plus range to the wider market. The three risk rated portfolios will embed Momentum’s tactical asset allocation positioning but use mostly passive fund building blocks to manage overall costs.”
Steve Hunter, head of business development, added: “The Momentum Passive Plus strategy follows the same strategic asset allocation focus and outcome-based philosophy as our fully active strategy and that’s where we feel we offer an edge.”
