Funding supplier Abrdn has launched a brand new MPS product, the Abrdn Cash Market MPS, to satisfy shopper for a low threat MPS different to money merchandise.
The Cash Market MPS will intention to ship a return intently aligned to the Financial institution of England base fee, the agency says.
The Financial institution of England base fee is presently 5.25%.
The MPS is accessible on the Abrdn Wrap and Elevate platforms.
The Managed Portfolio Service might be obtainable throughout all tax wrappers, the agency says, permitting advisers to ‘combine and match’ options alongside current funding propositions.
There isn’t a minimal funding quantity and no discover interval.
The portfolio might be rebalanced on a quarterly foundation and the element cash market funds might be reviewed often to make sure they meet the goals of the portfolio, Abrdn says.
The fund has an total price of 0.16% (excluding transaction prices).
Abrdn’s Cash Market MPS bolsters the present portfolio ranges which comprise three funding types utilized throughout 4 portfolio ranges, with 5 risk-assessed fashions in every vary.
Russell Bignall, managing director at Abrdn, mentioned: “Within the present atmosphere we all know demand is rising for low-risk money like options to reap the benefits of excessive rates of interest and that’s why we’ve launched the Abrdn Cash Market MPS.
“It gives advisers with a further resolution to satisfy this demand and retain belongings in a single place. By way of our platforms, advisers profit from the aptitude to diversify portfolios to satisfy shopper wants and our funding administration experience.”
Abrdn manages and administers £495bn of belongings for purchasers (as at 31 December 2023). It has three enterprise arms – Investments, Adviser and Private. The Adviser enterprise gives Monetary Planning options and know-how for UK monetary advisers. As at 31 December 2023, the Adviser enterprise administers £73.5bn of belongings.
