Morningstar has launched a multi-asset fund range for UK financial advisers and is using a blend of active and passive funds to keep costs down.
The Morningstar Multi-Asset Fund Range is a managed portfolio with a 0.60% ongoing charges figure for the retail share class.
Mainly passive funds are used in the three products, which target growth.
The funds span the risk spectrum using varying equity exposures are are managed by Morningstar Investment Management Europe.
The funds are:
- CG Morningstar Multi Asset 40 Fund (equity exposure ranges of 30-50%)
- CG Morningstar Multi Asset 60 Fund (equity exposure ranges of 50-70%)
- CG Morningstar Multi Asset 80 Fund (equity exposure ranges of 70-90%)
Despite a bias to passive funds, they also have the flexibility to target high-conviction active funds.
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