INSYNERGY shuts 'unprofitable' fund range on RDR pressures

INSYNERGY Investment Management is shutting down its fund range just four years after setting up, as pressure grows in the industry for competitiveness on fees ahead of RDR.

The group was set up in 2008 to provide retail investors access to strategies previously unavailable to them, such as the Odey Opus fund, run by Crispin Odey. However, INSYNERGY’s Odey fund would no longer be a viable option for advisers under RDR as investors can now access the same strategy at a lower cost. The INSYNERGY version was launched with an annual charge of 1.9%, compared to the average AMC of 1.5%. However, Spike Hughes (pictured), CEO for INSYNERGY, said the Opus fund, which has lower fees than the INSYNERGY offering, is now available on some of the “newer platforms” a...