Towergate links up with Cazenove to launch MAPs

Towergate Financial has launched a range of active multi-asset portfolios (MAPs), to be managed by Cazenove Capital.

The active MAPs will be managed by Marcus Brookes and Robin McDonald, co-managers of the Cazenove Capital multi-manager products.

Sitting alongside the firm's passive MAPs, launched last November and run by Evercore Pan-Asset, Towergate says its new active management option will help advisers adapt to the RDR.

The MAPs will consist of five portfolios with risk ratings from 2-6 and will have exposure to bonds, equities, cash and alternatives.

"They have the flexibility to use any FSA-registered security or collective investment scheme and any security available via Towergate," says a Cazenove spokesperson.

Towergate business development director Dan Salter says: "In terms of what funds are in the portfolio, that is at Marcus' discretion. But he will be looking to generate alpha so whilst he could use ETFs, he is more likely to hold active funds."

Cazenove Capital's tactical asset allocation is designed to directly map Towergate's attitude to risk outcomes, says the adviser firm. Clients investing in the MAPs become members of Towergate's wealth service programme.

Towergate Financial CEO Ian Darby says: "With our multi-asset portfolios (MAPs) and our wider private client toolkit we have listened to the needs of our financial planners and built solutions that ensure we are ahead of the game and ready for the post-RDR world."

"In doing so we have built a best of breed toolkit which will enable us to attract the very best advisers and businesses in to Towergate Financial."

Cazenove Capital director of UK advisory sales Rob Thorpe says its fund of funds, model portfolios and discretionary fund management capability make the company one of only a few capable of delivering a complete outsourced investment solution to advisers.

"Towergate have harnessed this in their private client offering which has created a powerful proposition for their financial planners and those advisers considering the post RDR world," he says.