Wealth manager Boolers, which runs a range of model portfolios, is expanding its investment proposition with the launch of three funds for clients: IFSL Boolers Cautious, IFSL Boolers Balanced and IFSL Boolers Adventurous.
The firm, which has around £1 billion of assets under management, is based in Leicester and serves clients throughout the UK. It will transfer around £500m of client assets from its model portfolios into the three multi-asset funds of funds, which will be managed by the Boolers investment team, led by Gavin O’Neill.
The business has appointed the Marlborough Group’s Investment Fund Services as the authorised corporate director (ACD) for the funds.
Gavin O’Neill, a Partner at Boolers, said: “The launch of our funds marks an exciting new chapter in the evolution of our business, as we continue to develop new solutions designed to provide the best possible outcomes for our clients.
“The funds will help us to drive down investment costs through economies of scale while also providing a range of other advantages, including tax benefits and access to a wider range of investment options.
“We’re a proudly independent business, and we believe adding the funds to our investment proposition will help us maintain and build our competitive edge as we continue to turn our ambitious plans for growth into reality.
“Deciding on an ACD was an important decision, and Investment Fund Services was the clear choice for us. Its charging structure is competitive, but just as important to us were the experience of the board, the size and stability of the group, the positive culture and Marlborough’s strong reputation within the industry. We haven’t been disappointed – the whole process of launching the funds has been very efficient, and we already feel like valued clients.”
Allan Hamer, CEO of Investment Fund Services, said: “We’re delighted Boolers selected us as the ACD to help launch its new funds. This is an important role, providing expertise and oversight to help to safeguard the best interests of the funds’ investors, and we take our responsibilities very seriously.
“We have a highly experienced team, providing not only robust oversight and governance but also guidance and support at every stage in the process of designing, launching and successfully operating funds.
“As a group, we’re committed to working with like-minded businesses to support their growth by helping them deliver first-class outcomes for their clients. We’re looking forward to a long-term partnership with the team at Boolers.”
The IFSL Boolers Cautious fund will have an ongoing charges figure (OCF) of 1.16% and will sit in the Investment Association’s Mixed Investment 20-60% Shares sector.
The IFSL Boolers Balanced fund will have an OCF of 1.16% and sit in the Mixed Investment 40-85% Shares sector.
The IFSL Boolers Adventurous fund will have an OCF of 1.19% and sit in the Flexible Investments sector.
