Rathbones announces intention to launch sustainable multi-asset portfolios

These will be a range of four new risk-rated, risk-targeted, sustainable investment funds, subject to regulatory approval.

The funds will be managed by Rathbones’ multi-asset team, comprising David Coombs, head of multi-asset investments, and Will McIntosh-Whyte, who will be responsible for the day-to-day investment of the portfolios. They will be supported by Rathbone Greenbank Investments (Greenbank), Rathbones’ specialist ethical, sustainable and impact research and investment team, as well as Rathbones’ fixed income and equity analysts. The new sustainable multi-asset range is expected to be launched during the first half of the year and to sit in the IA Volatility Managed sector. The range will aim to harness the risk-adjusted fund performance record of Rathbones’ multi-asset team, and Greenbank’s two decades of experience in ethical, sustainable and impact research and investment.

To support the launch, Rathbones expects to hire an assistant into the team, an investment specialist, as well as additional analysts to support the research, ideas generation, and client communications associated with the funds. 

The new range will invest directly around the globe, using a combination of government bonds, supra-national bonds, corporate bonds, listed company shares, structured products and derivatives. The funds will be actively managed with a strong emphasis on managing financial, and environmental, social and governance (ESG) risk and will focus on investments with strong links to Greenbank’s sustainability framework, which includes energy and climate, and health and wellbeing. Greenbank can veto investments which do not meet the funds’ responsible investment policy, ensuring it is applied without bias or influence from the fund managers.

The new multi-asset range will complement Rathbones’ existing sustainable equity offering, the Rathbone Global Sustainability Fund, managed by David Harrison, which will offer advisers a higher risk solution invested 100% in equities. Its benchmark is the FTSE World Index. Subject to regulatory approval, the name of the Rathbone Global Sustainability Fund will be changed to the Rathbone Greenbank Global Sustainability Fund. There will be no change to the investment process or fund manager. The recommended holding period remains five years.

The new range will employ the same negative and positive criteria as the Rathbone Global Sustainability Fund for its exposure across equities and corporate bonds*.

The team, supported by the wider Rathbones’ Stewardship resource, will continue to actively undertake stewardship activities such as voting, engagement and monitoring on behalf of investors.

The new range will offer investors the option of the following risk strategies:

The charges on the new funds are expected to be as follows: 

The minimum holding across all funds is £1000, with subsequent investments of a minimum of £500.

Mike Webb, chief executive, Rathbone Unit Trust Management, said: “Sustainability has rightly taken its place as a central pillar of our industry. Rathbones was a pioneer when the original RMAPs range was launched over 10 years ago as a risk-targeted range, and then again when it became one of the first to move from a fund of funds model, to invest directly and thus lowering costs for investors. Those funds now have an enviable track record.

“Subject to regulatory approval, these new multi-asset funds will be able to map into advisers’ investment processes across most client risk appetites, and with the industry-leading ethical and sustainable oversight of Greenbank as an authentic, independent arbiter. We believe that this strong collaboration ensures the integrity that our clients have come to expect of us.”

John David, head of Rathbone Greenbank Investments, said “Greenbank has built up over 20 years’ experience in the ethical, sustainable and impact investment and research space, and we also have a long track record of working with the Rathbone Unit Trust Management team on other mandates, through research and ideas-generation.”

Will McIntosh-Whyte, fund manager, said: “These funds feel like a natural progression for us, given our in-house expertise. We are focused on providing very clear parameters around all the funds in order that clients can have confidence in choosing the most suitable option within our range and enabling them to invest in line with their sustainability objectives without foregoing financial disciplines”.

-Ends-

Notes to editors

Rathbones Multi-Asset Team

David Coombs - Head of Multi-Asset Investments, Fund Manager

David is head of the team that is responsible for managing the Rathbone Multi-Asset Portfolio funds. He joined Rathbones in 2007 after spending 19 years with Baring Asset Management where he managed multi-asset funds and segregated mandates. He began his career with Hambros Bank in 1984.

Will McIntosh-Whyte - Fund Manager

Will McIntosh-Whyte is a fund manager on the Rathbone Multi-Asset Portfolio Funds, the offshore Luxembourg-based SICAVs, as well as the Rathbones Managed Portfolio Service (MPS), working alongside David Coombs. Will joined Rathbones in 2007, having worked previously as a specialist researcher for Theisen Securities. At Rathbones, he joined the charities team, and was appointed as an investment manager in 2011, running institutional multi-asset mandates. He has been on the Multi-Asset team since 2015 and is member of Rathbones’ Fixed Income Funds Committee. Will graduated from the University of Manchester Institute of Science of Technology with a BSc Hons in Management and is a CFA charter-holder.

Craig Brown - Investment Specialist

Craig Brown is the Investment Specialist for the Rathbone Multi-Asset Portfolios and Managed Portfolio Service (MPS). Craig joined Rathbones in November 2018 and brings with him 15 years of Financial Services experience, including time with Barclays Wealth & Investment Management, and Citibank. Directly prior to joining Rathbones, Craig was a multi-asset portfolio manager at Beckett Asset Management, constructing a range of portfolios for discretionary clients. He is a Chartered Member of the Chartered Institute for Securities and Investment.

Rathbone Global Sustainability Fund

David Harrison Fund Manager, Rathbone Global Sustainability Fund

David joined Rathbones in June 2014 and is the lead fund manager of the Rathbones Global Sustainability Fund. He has more than 20 years’ experience in equity analysis and fund management, including positions at Hermes and Goldman Sachs. David holds the Investment Management Certificate and a BSc (Hons) in Economics and Politics from the University of Southampton. He is a CFA charter-holder.

Advisors to the Rathbone Greenbank Investments team 

John David - Head of Rathbone Greenbank Investments

John David is head of Rathbone Greenbank Investments and is an investment director. In addition to managing bespoke private client and charity portfolios, John also sits on Rathbones’ Stewardship and Responsible Investment Committees. John is a graduate of Exeter University and is a chartered fellow of the Chartered Institute for Securities & Investment.  He began his financial career in 1997 with UBS Warburg in London and joined Rathbones in 2001. He was a founder member of Rathbone Greenbank Investments.

Perry Rudd - Head of Rathbone Greenbank’s ESI Research Team

Perry Rudd is head of Rathbone Greenbank’s ethical, sustainable and impact research team. Perry manages the team’s thematic research into key responsible investment issues as well as analysing corporate performance on environmental and social matters; he also works closely with Rathbones’ unit trust division on its two ethical and sustainability-focused funds. He is also responsible for managing the production of Greenbank’s bi-annual reviews. Perry started his career as a software development manager in 1990 and joined Rathbones in 1999 to establish its proprietary research database. He was a founder member of Rathbone Greenbank in 2004.

Rathbones’ LED Framework

The LED categorisation framework can be accessed through Rathbones’ bespoke, unitised or execution-only solutions.

*The Rathbone Global Sustainability Fund does not invest in companies materially involved in: 

Companies must also have a positive aspect in at least one area:

For further information, please visit here. 

About Rathbones Group Plc

Rathbones provides individual investment and wealth management services for private clients, charities, trustees and professional partners. We have been trusted for generations to manage and preserve our clients’ wealth. Our tradition of investing and acting responsibly has been with us from the beginning and continues to lead us forward.

• In business since 1742.
• A FTSE 250 listed company.
• Managing more than £54.7* billion for our clients.
• 15 offices throughout the UK and Jersey.

For more information about Rathbones Group Plc, please visit rathbones.com

Our purpose at Rathbones Group Plc

We see it as our responsibility to invest for everyone’s tomorrow. That means doing the right thing for our clients and for others too. Keeping the future in mind when we make decisions today. Looking beyond the short term for the most sustainable outcome. This is how we build enduring value for our clients, make a wider contribution to society and create a lasting legacy. Thinking, acting and investing responsibly. Find out more

_{*as 31 December 2020. Includes funds managed by Rathbone Unit Trust Management.}

About Rathbone Unit Trust Management

Rathbone Unit Trust Management Limited is a wholly-owned, London-based subsidiary of Rathbones Group plc. In 1995 and 1996 respectively, Rathbones Group acquired stockbrokers Laurence Keen and Neilson Cobbold, securing many private wealth managers, and their clients. The company also acquired unit trusts from Laurence Keen Unit Trust Management including the Rathbone Income Fund - the success of which led to a rebranding of the operation in 1999 to Rathbone Unit Trust Management Limited. Through its subsidiaries, the parent company manages £54.7billion of client funds, of which £9.8 billion is managed by Rathbone Unit Trust Management Limited. (As at 31 December 2020).

About Rathbone Greenbank Investments

Rathbone Greenbank Investments specialises in creating bespoke ethical, sustainable and impact portfolios on behalf of its individual, charity and professional adviser clients. Greenbank manages over £1.9 billion of funds (as at 31 December 2020) and is part of Rathbone Investment Management Limited.

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