Consumer duty has pushed Momentum Global to make its passive managed portfolio service available to more advisers in the UK.
It's Momentum Passive Plus MPS was launched in 2016 and the firm said recent focus on value and price under consumer duty regulations made it the right time to offer the service more widely.
Steve Hunter, MGIM head of business development, said: "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.
"We are committed to providing MPS solutions for investors at a range of price points, and the Passive Plus MPS is a great option for those looking to keep costs low, whilst still accessing active selection expertise.”
The three portfolios - cautious, moderate, and dynamic - are comprised of passive funds with some active elements.
The portfolios will be made available on Abrdn, Aviva Investors and Quilter platforms and charges, excluding platform fees, will be under 0.4 per cent with MGIM's discretionary fund management charge being 0.15 per cent.
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.”
tara.o'connor@ft.com
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