Wise opens two Fofs

private client manager launches two fund of funds into ima sector

Wise Investment, a private client manager, has this week launched two fund of funds (Fof) into the IMA active managed sector. The two portfolios are based upon existing broker funds that Wise is closing down. The launch period closes on 31 March and £16m from the broker funds is being used to seed the new portfolios. Administered by Capita, the CF Wise Active Growth fund will be managed by David Stephenson, while CF Wise Investment will be managed by Tony Yarrow. Both managers are looking to outperform the FTSE 100 and will invest in a mix of UK and global equities. However, they can mo...