In addition, Elevate has also added the Momentum Diversified Growth Fund which complements the Factor Series by providing UK retail clients with a multi-asset flexible fund targeting equity-like returns with reduced volatility over a full market cycle.
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The funds are:
-PFS Momentum Factor 3 (targeting annual returns of UK CPI plus 3% (net) with a Distribution Technology risk rating of 3)
-PFS Momentum Factor 4 (targeting annual returns of UK CPI plus 4% (net) with a Distribution Technology risk rating of 4)
-PFS Momentum Factor 5 (targeting annual returns of UK CPI plus 5% (net) with a Distribution Technology risk rating of 5)
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By GlobalData-PFS Momentum Diversified Growth Fund (targeting annual returns of the three month sterling LIBOR interest rate plus 3%).
The Momentum Factor Series fund range has been selected for the Lighthouse Financial Advice Researched Solutions investment panel. It was recently announced that Elevate will be one of the strategic partner platforms to transact all Lighthouse investment business. It has recently been announced that Elevate currently has £6bn assets under management.
David Thompson, MD, Elevate, AXA Wealth, said: "It’s more crucial than ever in the post-RDR world that advisers and clients feel they are getting real value through their investment strategies. Providing additional choice through the Momentum funds, particularly with the clean share class option, on our functionally rich platform further enhances Elevate’s appeal."
David Thomas, Head of UK Retail at Momentum, said: "We are focused on creating responsible solutions for stress-free investing. Adding the funds on to the Elevate platform, given its growth and flexibility, will give advisers and their clients additional choice of UK retail investments to suit their risk appetite wherever they are on their investment journey."
