Expanding our Investment Services with Discretionary Investment Portfolios

Our in-house managed portfolio service has long been used by those more interested and engaged in the investment side of things. Over the last ten years we have successfully navigated an extremely varied and challenging investment landscape with a mixed basket of crises. That said perhaps the most surprising aspect has been the growth achieved in the good times (between all the various crises!). It has worked well with updates to portfolios made on a broadly annual basis to adapt to the market conditions anticipated for the year ahead. Each time we required written agreement from investors since our service was being offered on an ‘advisory’ basis. Although a bit stilted at times due to the administration required, it has held up well.

Whilst the investment landscape may have been varied, there has been one common theme throughout – low interest rates. These low interest rates can’t last forever, and most commentators would be surprised if rates rose in the next six months to a year. Beyond that, rises seem inevitable and market conditions are likely to change. Bond prices and stock markets will react to any change in interest rates around the world. In order to be ready for these changes we wanted to change the way we work to allow us to make more frequent and timely changes, without the delays associated with written consent each time a change is to be made.

I’m delighted to share that we have teamed up with Albemarle Street Partners Investment Management Ltd. (ASPIM) to bring about these changes. Firstly, this means that investment portfolios can be updated on a discretionary basis every quarter. That means timely and relevant changes will be made efficiently and without the delays associated with individual written consent. Naturally, the portfolios will continue to respect the same risk levels and diversified approach but the level of activity and strategic alterations will be increased, which we feel is the right approach for the future. Furthermore, the addition of the ASPIM team brings a considerable amount of expertise to our investment committee, with access to more in-depth research and a broad set of skills in fund management and portfolio construction. In particular, we have chosen to work with ASPIM because their approach to date has mirrored our own, with systems to assess risk and opportunities in the investment world with impartiality and discipline. These improvements won’t increase the portfolio management costs.

More information will follow in the coming months for those of you interested in this service, but if you have any questions in the meantime please do contact your Alexander Beard adviser to find out more.

Andrew Moore Managing Director