Waverton restructures equity exposure on model portfolios

Led to reduction in fees

Waverton Investment Management has restructured the equity element of its model portfolios by moving 60% of its assets from the firm's multi-manager mandate, the Tactical Equity fund, into the stockpicking Global Core Equity fund, resulting in reduced fees.

The equity portion of Waverton's model portfolio services is now made up of 60% held in the Global Core Equity fund and 40% in the Tactical Equity fund. Prior to this, the equity part of the model portfolios was made up entirely by the Equity fund, which was renamed the Tactical Equity fund in October. The group said the move has resulted in the total charge on the portfolio being reduced by 30 basis points to 0.83% due to "a big block of third party management being taken out". Waverton acquires boutique 2CG Senhouse The Global Core Equity fund, previously named the Global Equi...