None of the information provided is investment or tax advice. You should always read the associated risks before deciding whether to invest. These can be found on the product pages as well as in our risks overview. Please confirm you have read the information above.
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Simon Evan-Cook believes so in his latest Citywire column
In light of the introduction of consumer duty, Evan-Cook, Manager of the VT Downing Fox Funds range, presents a compelling argument in favour of funds of funds.
In his regular Citywire column, he discusses his rationale for favouring a funds of funds approach over discretionary fund management or model portfolio services. Some of the key takeaways include:
Management: they are simpler, easier, and better for holders and advisers
Consumer duty: unexpected capital gains tax liabilities for some clients
Fair treatment: the funds of funds model focuses on investment fundamentals and not personal tax implications
Funds of funds are easy to compare - creating healthy competition
Evan-Cook commented “They (funds of funds) were invented a few decades back to solve a host of problems that come from owning a portfolio of funds directly, and they still do that.
I could pretend to lay down a balanced list of pros and cons for all the options, but I won’t insult your intelligence. I manage funds of funds and I write a column called Fund of Funds Insider, so guess what? I think funds of funds are the best bet.
You get all of the diversification, but with a fraction of the hassle.”
Downing launched the VT Downing Fox Funds range in June of this year. The new multi-asset range, designed specifically for UK financial advisers, consists of four funds of funds that differ by the amount they hold in equities: 40%, 60%, 80% and 100%.
Risk warnings: Opinions expressed represent the views of the fund manager at the time of publication, are subject to change, and should not be interpreted as investment advice. Please refer to the latest full Prospectus and KIID before investing; your attention is drawn to the risk, fees and taxation factors contained therein.
Please note that past performance is not a reliable indicator of future results. Capital is at risk. Investments and the income derived from them can fall as well as rise and investors may not get back the full amount invested. Investments in our funds should be held for the long-term and are higher risk compared to investments solely in larger, more established companies.
Important notice: This content is intended for retail investors and their advisers and has been approved and issued as a financial promotion in line with Section 21 of the FSMA by Downing LLP (“Downing”). This document is for information only and does not form part of a direct offer or invitation to purchase, subscribe for or dispose of securities and no reliance should be placed on it. This document contains information that is believed to be accurate at the time of publication but is subject to change without notice. Whilst care has been taken in compiling the content of this document, no representation or warranty, express or implied, is made by Downing LLP as to its accuracy or completeness, including for external sources (which may have been used) which have not been verified. Downing does not offer investment or tax advice or make recommendations regarding investments. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 545025).
