The parent company of UK-based Brown Shipley, Luxembourg-based Quintet Private Bank has introduced the first of several multi-manager UCITS funds created in partnership with global asset manager BlackRock.

This comes after the Quintet Group, including Brown Shipley, signed a partnership document with BlackRock in 2023 that will expand its investment capabilities.

Moreover, this move will boost the group’s ability to meet the future requirements of its clients while maintaining control over its investment decision-making.

These actively managed, single asset class funds will combine a number of third-party managers into a single fund with the goal of enhancing diversification and supporting portfolio performance, illustrating Quintet’s open-architecture approach, and backed by BlackRock’s size and investment expertise.

Services will only be offered to Brown Shipley clients in the UK.

After receiving regulatory authorisation, the first fund, QMM Actively Managed US Equity, was introduced and is only accessible to clients of Brown Shipley and Quintet Group for investments, including as a component of the private bank’s flagship portfolios.

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This product, denominated in US dollars, combines actively managed US stock strategies that favour various styles in an attempt to exceed its benchmark.

Furthermore, the US equity fund, like the three additional multi-manager funds is set to launch with BlackRock by the end of May 2024 which spans across global high-yield bonds, Continental European equities, and global investment-grade corporate bonds – incorporates environmental, social, and governance considerations are all consistent with Quintet’s sustainable investment policy.

Quintet is going to employ Aladdin, BlackRock’s own investment technology platform, for risk analytics and reporting.

Bryan Crawford, Quintet group head of investment & client solutions and member of the Authorised Management Committee stated: “We are delighted to announce the launch of the first fund in collaboration with BlackRock, reflecting our ability to deliver robust client outcomes, superior client experience and ongoing investment innovation. As we look ahead to the launch of additional funds with BlackRock, we are excited about providing our clients with access to an even broader universe of investment opportunities.”

Bettina Mazzocchi, co-head of wealth solutions EMEA, multi-asset strategies & solutions at BlackRock, said: “We have worked with Quintet to create a set of innovative solutions exclusively for their clients which combine best-in-class investment strategies and seek to deliver more durable outcomes across all market environments. Each of the funds has been tailored to meet the needs of Quintet’s clients and draws upon BlackRock’s investment expertise and the strength of our risk-management platform to drive product and portfolio innovation.”