Coutts has launched a new line of seven multi-asset Retail Distribution Review (RDR) compliant funds.

The multi-asset funds which cover cash, bonds, equities, commodities and property is part of Coutts’ strategy to develop its wealth management capabilities with the provision of RDR-compliant solutions, while attracting clients outside the bank’s core high net worth base.

The funds range from UK-focused funds (Defensive Fund, Balanced Fund, Growth Fund and Equity Growth Fund), and global-focused ones, with the global funds’ base currency being the US dollars and hedged share classes being available in GBP, EUR and CHF.

Coutts managing director – investment office, Leslie Gent, explained the entry thresholds (capped at £50,000, or $81,265) for the Undertakings for Collective Investment in Transferable Securities (UCITS) funds were created for Coutts’ internal client base.

 

Diversification with more "bells and whistles" for clients

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While Coutts is mostly known as an asset allocator, Gent said the bank "had decided to bring more bells and whistles to clients to take advantage of market opportunities"; not through the historically preferred discretionary portfolio account, but through "a unitised structure".

She said the bank wouldn’t align the lowered entry-level threshold with the rest of the private bank’s strategy.

"The threshold for the funds is not tied to our strategy. The funds were designed as a core investment holding, and we recognise that our clients invest in many different products and securities such as private equity. " she added.

Coutts UK chief investment officer, Alan Higgins, and his team will manage the four UK-focused funds while the three global funds will be lead-managed by Europe CIO, Norman Villamin, and his team in Zurich.