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Wealth firm launches ‘cheapest passive portfolios on the market’

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Wealth firm launches ‘cheapest passive portfolios on the market’

P1 Investment Management is set to launch a suite of five low cost portfolios it claims will be the ‘cheapest passive portfolios on the market’.

The company’s head of portfolio management Will Dickson (pictured)  will run the strategies.

He will be assisted by P1 managing director James Priday, Quintin Rayer, the firm’s head of research, and investment analyst Adrian Margrie.

The suite will include five different risk levels each with a charge of 0.1%, in addition to an average underlying fund cost of just 0.09%.

Priday said: ‘The industry needs more low cost options to make investment more accessible and affordable, so we are really excited about the launch of our new portfolios.’

The firm’s existing hybrid model portfolios will form the basis of the new range’s asset allocation.

‘Our hybrid model portfolios have been running for five years,’ Priday said.

‘We have back-tested the passive portfolio performance according to our asset allocation at the equivalent risk levels over the five year period and we are extremely happy with their positioning. At an all-in cost of 0.19%, we believe they are the cheapest passive portfolios on the market.’

Dickson has regularly featured in Wealth Manager’s Top 30 under 30, having received the accolade two years running. In addition to the passive portfolios, he also runs £60 million in client assets on behalf of over 250 clients, and manages the firm’s nine model portfolios.

Prior to joining Prydis, of which P1 Investment Management is the discretionary arm, he started his career at Brewin Dolphin as a trainee investment manager. 

The launch marks the first in 2018, but last year saw a number of wealth and asset management businesses, including 7IM, AJ Bell, and Coutts all roll out low cost passive portfolios.

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