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Berry Asset Management partners with Novia to offer risk-graded model portfolios


Private client wealth manager Berry Asset Management PLC (BAM) has entered a partnership arrangement with wrap platform Novia to offer a range of five risk-graded model portfolios.


A privately held company, BAM is a majority-owned subsidiary of the Geneva-based global private banking group Bordier & Cie, 30% of the company’s equity resting with its UK management. BAM’s Discretionary Fund Management services have been available to those working with High Net Worth clients for 30 years this year, the new Portfolios providing advisers serving the next tier of wealth with access to the company’s long-proven investment expertise for the very first time.

The range, which has been designed in consultation with the intermediary community to meet a broad spectrum of risk appetites, incorporates Managed Portfolio Service (MPS) Defensive, MPS Cautious Income, MPS Balanced, MPS Growth and MPS Aggressive. The risk-return characteristics of each model are closely aligned with Novia’a risk profiling tools, risk being classified by volatility of returns and subsequently equity exposure. The models are rebalanced at least quarterly to ensure minimum drift i.e that the asset allocation of each Portfolio remains consistent with its original risk profile.

The portfolios, which launch this week, have an Annual Discretionary Management charge set at 0.30% (exclusive of VAT) and are amongst the most accessible in the market, with minimum lump sum investments fromGBP£1,000.

Jamie MacLeod (pictured), chief executive officer of BAM and a member of Bordier & Cie’s Group Management Board, says: “We have been providing bespoke discretionary fund management services for 30 years this year, and we have established many wonderful intermediary and introducer partnerships in that time. We remain absolutely committed to the High Net Worth market.

“It was not hitherto possible to service the needs of those with more modest portfolios, but that has all changed with the Retail Distribution Review, with more and more intermediaries remodelling their businesses to embrace an outsourced investment solution. Our intermediaries are delighted that we are now able to make our investment expertise more widely available.”

BAM’s balanced and defensive portfolios have outperformed their respective benchmarks in each of the last five years.

MacLeod adds: “Novia launched to market as recently as October 2008. It is recognised industry-wide for the quality of its platform service, which is built on market-leading technology, so we are delighted to strike this partnership. With our track record for delivering outstanding annualised investment returns, we believe the new Portfolios will make for a compelling proposition.”

Paul Boston, sales director for Novia, says: “Berry has a fantastic heritage, and the new Portfolios added to the Novia platform provide a competitive offering with model portfolio charges of 30bps (ex VAT). We are delighted to be working with BAM, who have a wealth of experience in the Euro markets, with strong connections through Bordier & Cie. We have seen considerable adviser demand for these Portfolios and are pleased to be able to provide access to them via the Novia platform.”

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