7IM launches passively-managed range of funds

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7IM has launched a passively-managed range of Oeics that will reflect the asset allocation of its mul...

7IM has launched a passively-managed range of Oeics that will reflect the asset allocation of its multi-manager funds but only invest in vehicles such as ETFs. Like the multi-manager range, the Asset Allocated Passives (AAP) range has four funds, each with a different risk profile. Tom Sheridan, chief executive of 7IM, said by only investing in ETFs the funds will have a much lower TER, less than 1%, as the AMC is around 50bp, and as the funds grow in size this will reduce further. It will also mean the funds will have a more precise asset allocation. For example, if active managers ho...

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