UK wealth manager Evelyn Partners has reduced the fees on its International Managed Portfolio Service (MPS) by a third from 0.30% to 0.20%, bringing the service in line with its UK MPS offerings.
The MPS offers international financial advisers asset allocation strategies deployed through a selection of funds. There are seven risk-rated models available in GBP, EUR or USD. Each is continuously monitored by a Jersey-based team within Evelyn Partners International.
Launched in 2020, the service is available to international financial advisers, primarily in Europe, the UAE and Malaysia, through external international platform providers Morningstar International and Novia Global.
Harriette Collings, director, International Business Development, who heads up Evelyn Partners’ international intermediaries offering, said: “Our decision to reduce the service fees on our International MPS range brings it in line with our UK MPS offerings.
“As the industry continues to move towards modern platform solutions, transparent and competitive charging is more important than ever. This change ensures our proposition remains both cost-effective and aligned with the evolving needs of our advisers and their clients around the world.”
The models are rebalanced quarterly and now have a cap on their ongoing charges figure of 0.60%, with charges across the range currently spanning 0.35% to 0.60%.
Rod Sallis, Investment Management Director and Lead Portfolio Manager for International MPS, added: “Whilst we made no changes at the major asset class level in the latest rebalance, we were active within the underlying composition of the strategies. Following guidance from our strategy team, we reduced exposure to the UK after a period of strong performance.”
