Who manages the Funds?

The delegated Fund management responsibility and day to day decisions regarding the investments are made by Baggette Asset Management Limited (BAM).

This team of experts will help to ensure the Funds are aligned to the philosophy and mandate as laid out in the Key Investor Information Document (KIID) and prospectus. BAM provides regular updates to investors in the Fund through quarterly newsletters and factsheets, as well as macro commentary.

Authorised Corporate Director (ACD)

Investment Fund Services Limited are the Authorised Corporate Director, this means that they are the legal owner of the funds and are responsible for ongoing administration.

They must arrange the management and safe custody of the fund assets. IFSL have done this by making two third-party appointments.

Investment Manager

IFSL have appointed Baggette Asset Management Limited to each fund. As investment managers IFSL oversee our processes and all investment decisions ensuring that we continue to manage the assets appropriately.

Depositary

HSBC hold all assets within the Funds and are responsible for their safe custody.

 Each party is authorised and regulated by the FCA and the Funds are audited regularly. All Fund assets are
ringfenced and protected by the Financial Services Compensation Scheme (FSCS), up to £85,000.

Please be aware that investments can fall as well as rise; you may not
get back the amount which you originally invested.

A systematic screening process for fund selection is undertaken to ensure that funds are eligible for inclusion. Attributes include:

  • Funds should reside within the Investment Association (‘IA’) universe
  • Minimum fund size preferably >£50m
  • A 12 month track record is preferable
  • Consistency in fund management team
  • Acceptable costs (OCF/TER <1.5%)
  • Consistent benchmark outperformance
  • Active managers who are not benchmark constrained
  • Strong risk-adjusted performance record
  • Use of passives when appropriate

The BAM research team conducts initial screening via FE Analytics™ and Morningstar™ to identify opportunities within our investible universe. Once a Fund has been indentified, we carry out fund manager interviews and request the completion of our due diligence questionnaire.

These vital steps ensure that our process is robust and thorough. Investments are reviewed on a regular basis, with fund manager and due diligence updates taking place at least every six months. This provides us with strong reassurance from a regulatory perspective, whilst offering investors equal levels of comfort as to the management of their wealth.

Investment Committee

  • Provides a decision-making forum where representatives of the firm can discuss investment propositions, with the aim of ensuring that investors receive
  • Reasonable fund performance, and operational processes and controls are maintained and continuously improved.
  • Undertake appropriate reviews to ensure that the firm’s status for investment advice is maintained.
  • Assess the compatibility of particular investments and services for investors.
  • Review the effectiveness of the business’s investment proposition strategy and review/agree initiatives to improve this.
  • Maintain a control framework, ensuring that appropriate controls exist within the firm to allow operation within given risk tolerances.

Portfolio Construction

Systems are in place to ensure that each portfolio offering remains consistent with the investor’s risk appetite via the risk-budgeting process discussed in the strategic asset allocation section earlier.

The COLL handbook is always at the forefront of our minds, particularly:

  • COLL 1 – Types of Investment Fund
  • COLL 5 – Investment & Borrowing Powers