Seven Investment Management (7IM) has launched four passively-managed multi-manager funds which it says will only invest in vehicles such as ETFs.
The Asset Allocated Passives (AAP) range will incorporate the same investment discipline and structure as the firm’s existing multi-manager offerings, but with a projected total expense ratio of less than 1%. 7IM says the funds, which have no active managers, can provide advisers with a far more precise approach to risk-based asset allocation. It says passives ensure '100% investment, 100% of the time' – as active managers can often be tempted to hold cash or similar-type positions. “AAP is the answer to a difficult question: if the primary determinant of portfolio success is asset al...
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