News in brief: 9 March

Written by Natalie Tuck

BMO Global Asset Management has announced the expansion of its responsible fund range, with the launch of a Euro corporate bond fund, bringing its responsible range to seven funds. The BMO Responsible Euro Corporate Bond Fund will be managed by Andrew Brown and Rebecca Seabrook and aims to maximise returns by providing investors with exposure to primarily investment grade, ethically-screened Euro fixed interest securities. The fund invests in companies making a positive contribution to society, taking practical action to improve the environment, as well as those furthering sustainable development and operating in a transparent and open way in the reporting of their business activities.

AJ Bell has launched four new portfolios within its Managed Portfolio Service (MPS) that are targeted to provide a specific level of income. The income portfolios have been launched in response to the ongoing demand for income solutions from advisers and their clients and will be particularly relevant to income drawdown clients. The firm recently cut the annual management charge of its MPS to 0.15 per cent + VAT and the new income portfolios will also benefit from this. There are two investment objectives, each of which are available as a passive or active underlying portfolio.

The Local Pensions Partnership has launched the LPP I Fixed Income Fund, its inaugural fund dedicated to investing in fixed income as an asset class. The Fund aims to deliver optimal long-term risk-adjusted returns, capitalising on opportunities in the global fixed income market, with a strong focus on capital preservation. It will invest predominately in higher credit quality, highly liquid fixed income instruments across geographies, instrument types and maturities. The Fund is aimed at capturing and enhancing risk-adjusted returns, irrespective of market conditions.

Altus has selected Parmenion as its launch partner for its pensions gateway. Many retirees are now enjoying the benefits provided by the new pension regulations but in order to deliver the best possible client experience, it is necessary to optimise operations with class leading technology and robust business processes. Parmenion has over £1.7bn of assets invested in its SIPP and 25 per cent of that has been allocated to drawdown accounts.

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