PERSPECTIVE INVESTMENT MANAGEMENT SOLUTIONS

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PERSPECTIVE INVESTMENT MANAGEMENT SOLUTIONS

  1. 1. PERSPECTIVE INVESTMENT MANAGEMENT SOLUTIONS
  2. 2. CONTENTS Introduction .................................................. 2 Perspective Investment Management Solutions (PIMS) ........................................... 3 Approach ...................................................... 4 Who will manage my portfolio? ................... 5 PIMS 1 – Portfolio Fund Management ........ 6 PIMS 2 – Open Portfolio Management ...... 10 PIMS 3 – Discretionary Wealth Management .............................................. 11 Which level is best for me? ........................ 12 What next? .................................................. 13 What is PIMS? Perspective Investment Management Solutions (PIMS) is the specialist service provided by Perspective Financial Management Ltd and Cambridge Investments Ltd, (part of the Perspective Financial Group), who are responsible for the design and management of bespoke investment management structures. PIMS provides a simple, defined choice of Investment Management styles, enabling clients to choose a management system that suits current circumstances, but with the ability to change service if those circumstances change in the future.
  3. 3. INTRODUCTION Similar to many investors, you may have accumulated a number of assets and investments, which have been built up over a period of time. Ideally these assets will be… ▲ placed in a portfolio that accurately reflects your personal investment objectives ▲ reviewed on a regular basis ▲ administratively managed so that you are not trying to continually climb a paper mountain of statements and valuations The reality, of course, is often very different. As your investments build in both number and size, managing your portfolio can demand a greater level of expertise and time; and just keeping on top of paperwork can be more than a simple task. Even if you feel very confident of making investment decisions alone, rapid changes in market conditions may mean that you do not have the time to react with the necessary speed, or you may just feel that there are plenty of other things that you would rather do with your free time. QUALITY... PROACTIVE ... HIGHLY COMPETITIVE At Perspective, we believe that the key to investment performance lies in providing our clients with a simple but comprehensive choice of investment management – sufficient to match the needs of all types of investor. Perspective Investment Management Solutions (PIMS) delivers what it states – investment management solutions. All of our solutions offer our clients proactive, experienced investment management, which is designed to deliver added value within a highly competitive pricing structure. To find out more about the PIMS Service, please call the PIMS team on 01908 574782. 2
  4. 4. Perspective Investment Management Solutions (PIMS) A complete investment solution that provides three distinct choices of investment management: ▲ PIMS LEVEL 1 — Portfolio Fund Management Designed for clients that require simple, proactive fund management; with quality and consistent reporting and the feeling of a secure management structure – This non-discretionary service provides access to Perspective’s exclusive own brand funds, named ELEVATION. These funds are blended to provide a profile which reflects individual investment risk. Each fund is managed actively and each model portfolio is rebalanced every six months as required to ensure performance is consistently delivered. ▲▲ PIMS LEVEL 2 — Open Portfolio Management Designed for our clients with more diverse existing portfolios – This service is administered by Perspective, with investment management provided by our sister group company Cambridge Investments Limited, allowing access to a wide range of diverse collective funds. The service ensures that there is a match between investment objectives and individual attitude towards investment risk. Model asset portfolios are used as the setting for the selection of ‘best of breed’ funds. Portfolios are rebalanced, as required, on a six-monthly basis to ensure that profiles are maintained and performance opportunities are appropriate. ▲▲▲ PIMS LEVEL 3 — Discretionary Wealth Management Created for larger investment portfolios that require bespoke tailoring on an individual basis – This service is designed with the objective of providing investors with absolute returns in any market conditions. Run by Cambridge Investments Limited – a Discretionary Fund Management firm with a long track record of wealth management – the objective is to maximise returns and reduce volatility by continually reviewing asset allocation, and making tactical investment decisions when markets and international economic circumstances dictate. This proactive approach to managing client portfolios can best provide the opportunities to deliver consistent returns and minimise risk. To choose the Management option that best suits your requirements – please read on… Note: The value of your investments can go down as well as up and you may not get back the full amount invested. 3
  5. 5. A comprehensive and integrated APPROACH approach to investment management Setting Objectives The investment management process starts with setting out your investment objectives. General financial security within the next 15 years, a secure retirement and planning to mitigate the effects of Inheritance Tax for the benefit of the next generation are all common planning objectives. Investment Risk Your age and/or the time that you have to save towards meeting an objective will typically be key drivers to your attitude to investment risk. Indeed, your attitude to risk may vary dependant upon your objectives. One of our team of Independent Financial Advisers (IFAs) will advise you on the investment portfolio that will best suit your investment aims and attitude to investment risk. This consultation can take into full account any type of investment structure. Choosing a PIMS Service The design of PIMS is to give you choice to re-evaluate your investment strategy either now or in the future. For example, if you are currently in the process of building your investment then you may choose PIMS Level 1 on the basis that it provides a pro-active management system at a relatively low cost. Later, when your situation becomes more complex, you may choose to move to either PIMS Level 2 or PIMS Level 3 – dependant upon your needs at the time. Your advisor will discuss with you the options and be able to professionally recommend the most appropriate solution. Regular appraisal – ongoing monitoring of your portfolio PIMS ensures that your investments, once established, are monitored in a structured way. Whichever service you choose, not only will you be assured of pro-active on-going investment management – but also be kept fully up to date on performance. Regular and Simple Reporting PIMS will provide you with regular reports of performance and the value of your investment. This means that you are always in touch with what is happening to your money. Access to our Investment Team PIMS combines a unique blend of in house expert management with the benefit of close linked services provided by Cambridge Investments Limited – who have over 50 years combined investment experience. With full management control over all of the investment processes, we believe that we can deliver an unrivalled level of control over the way your investments are managed. Fair Charges PIMS has been created to provide our clients with significant added value – which starts with fair charging for skills and expertise. The menu approach helps to ensure that you pay for what you need. Charges for all of the services are set out in the comparative guide in this brochure, and so you can assess the service you need against the full choice available. 4
  6. 6. Who will manage my portfolio? The Perspective Investment Management Team Whether you choose PIMS Level 1, 2 or 3, our own internal investment team will ensure that you secure the most appropriate type of investment management. Our team regularly meet the fund managers, to scrutinise their performance and approach to investment opportunities. The PIMS Team Joe Reed – PIMS Investment Advisor Maria De Lima – Investment Director (Perspective Financial Management) (Cambridge Investments Limited) Joe joined the Perspective team in 2002 after completing his degree, Starting in 1981, Maria spent 11 years working for two major unit which was specialised towards risk management and stock market linked investment institutions to gain her financial and investment investment. Now a qualified Investment Advisor with experience of experience. Subsequently, Maria joined CIL as a Director in 1992, working with our clients directly, Joe has been instrumental in the specialising in pensions advice and discretionary investment establishment of PIMS. management. Maria has achieved the Financial Planning Certificate, Investment Management Certificate, G60 specialist pension paper Geoff Sharpe – Technical Director (Perspective of the Advanced Financial Planning Certificate and a number of Financial Management) & Investment Manager Chartered Insurance examinations. With a successful career (Cambridge Investments Limited) spanning over 27 years, Maria currently specialises in fund research As one of the most broadly qualified Investment experts in his field, and asset management. Geoff is a Fellow of the Personal Finance Society and Chartered Financial Planner with over 15 years’ investment experience. Geoff Christopher Gough-Goodman – Managing Director provides considerable expertise and a long, successful track record (Cambridge Investments Limited) of managing client investments, through the full cycle of investment Christopher came to Cambridge to take up a nine year career conditions. in electronic engineering and management with the Pye Group. Following a two year sabbatical researching investment markets, Cambridge Investments Limited was Christopher commenced his investment and financial advisory an early contributing member of the business in 1971 to advise specifically on investment market ‘National Association of Securities Dealers and Investment Managers’ opportunities. Christopher’s investment career has always been (NASDIM). CIL is a fully authorised Discretionary Investment technically based, and in 1979 he formed the firm Cambridge Management firm and a member of the ‘Association of Private Clients, Investments Limited to offer discretionary investment services. Investment Managers and Stockbrokers’ (APCIMS). With a combined Christopher has been a member of the ‘Society of Technical Analysts’ discretionary investment management experience of over 50 years, for over 20 years. CIL has enjoyed a high client retention ratio over many years, focusing on prudent management of family and trust assets. 5
  7. 7. ▲ PIMS LEVEL 1 — Portfolio Fund Management What is it? What are the benefits ▲ PIMS Level 1 has created three bespoke regulated Open Ended for me? Investment Companies (OEICs) with Way Fund Managers – each a member of the ELEVATION brand (ELEVATION is Perspective’s ‘own ▲ Access to funds which have been specifically designed by Elevation brand’ label which denotes investment structures that Perspective ▲ Each fund manager is directly accountable to PIMS for the delivery have designed in house and for which we hold a higher level of performance and service management control over) ▲ Accurate matching of funds with investment objectives and attitude ▲ Each fund has been fully authorised in the UK by the Financial to investment risk Services Authority (FSA) ▲ Proactive rebalancing of model portfolios on a six monthly basis, ▲ The three funds have individual risk profiles – cautious, balanced as required and international. Each fund sets its own asset allocation policy governed by its risk mandate ▲ Regular fund performance reports ▲ Each fund can select from a combination of funds and direct ▲ Service provided at competitive annual management charge investments, designed to deliver the investment objective of included within the fund. the fund ▲ Each fund is allocated an investment manager by PIMS. The choice is made on the criteria of past performance, access to research, reputation and commitment to deliver service ▲ Each fund manager has to work in an integrated way with fellow Elevation Fund Managers – to the extent of harmonising stock selections, and avoiding repetitive stock purchase ▲ Each fund manager’s performance is reviewed regularly by PIMS, which ensures that consistent performance is delivered. Why should I invest in How does it work? this solution? ▲ PIMS Level 1 sets 10 risk settings, which cover the full range of individual risk profiles. This service operates between risk setting ▲ Peace of mind – The fact that your investments are 2 ‘low risk’ and 9 ‘high risk’ (risk settings 1 & 10 are extreme, and being professionally and regularly monitored and outside of the remit of the Elevation funds) continuously reviewed ▲ Each risk setting has its own model portfolio. The three funds are ▲ Flexibility – as your circumstances change you can blended to reflect each risk rating choose to remain a member of PIMS 1 or graduate to either PIMS 2 or 3 (whatever reflects your personal ▲ Each model portfolio setting is re evaluated on a six monthly basis needs at any time) ▲ PIMS meet each fund manager six monthly to assess performance of ▲ Competitive pricing – PIMS 1 is an efficient and each fund streamlined service. Its costs are kept to a minimum because of its efficiency ▲ Clients are notified of any intended re balancing of funds – and are asked to contact our investment team if they have queries with ▲ Excellent value with no additional layered the blend rebalancing – or more typically they have experienced a management cost. change in circumstances which may mean a change in risk profiling. 6
  8. 8. Asset Allocation Process The objective of PIMS 1 is to create and maintain asset allocation models which accurately reflect individual client attitudes to risk. By using a profiling questionnaire, clients are allocated a risk level from 1- 9, with 9 being the highest risk. As a guide, we used established benchmarks such as the Association of Private Clients, Investment Managers & Stockbrokers (APCIMS) models, and IMA sector classifications such as Cautious Managed, UK All Companies and Global Growth. We were able to create portfolios with different mix of assets, which could then be tested against the permitted level of volatility for each classification. The final asset allocation models are therefore bespoke portfolios, using one or more of the Elevation funds. Performance is measured against fixed benchmarks, but our Fund Managers have complete flexibility to invest within the range of assets permitted for each fund. All three funds are currently managed by our chosen Fund Managers at Vestra Wealth LLP, which gives us an advantage when blending the funds. As the Fund Managers are in regular communication, we can ensure that there is no duplication of asset allocation when funds are rebalanced. The ELEVATION Fund Managers Sanjay Rijhsinghani Andrew Archer After completing his Masters at Imperial College London, Sanjay joined After graduating from Northumbria University in accountancy, Andrew joined GEM Dolphin Investment Managers in October 1994 as a trainee Fund Laing & Cruickshank in 2001, as a trainee Investment Manager. He was Manager on the emerging markets desk where he assisted in the successful responsible for the unit trust recommended list which entailed research into launch and running of two Indian sub-continent funds. In January 1997, a vast number of onshore and offshore collectives. He worked in conjunction Sanjay joined the Asset Management Team of Brewin Dolphin as a Fund with Nigel Triptree in managing UK trusts, Private Client portfolios, broker Manager where he worked in conjunction with Martin Rasch in managing funds and option accounts. In May 2004 Laing and Cruickshank was acquired UK Unit Trusts, Charities, private client portfolios and broker funds. He by UBS and Andrew was appointed an Associate Director. In early 2004 completed the Investment Management Certificate in 1996, after which he Andrew won the mandate to run the Way Cash Fund. In 2005 he completed took charge of the OM BD Technology Fund, which was £75m in size at his Securities Institute Diploma. Andrews’s responsibilities include assisting its peak. In 1999, along with the rest of the Asset Management team at in the management of around 300 Private Client portfolios, which include Brewins, Sanjay joined Laing & Cruickshank as an Investment Director. Laing geographic and sector modelling as well as stock selection, one unit trust & Cruickshank were acquired by UBS in May 2004, where Sanjay continued and several active options accounts. Andrew also joined Vestra Wealth LLP to manage money in his capacity as Investment Director. Sanjay is one of from UBS, ensuring the continuity of the fund management team responsible a number of leading investment professionals who have joined together to for the Elevation funds. set up Vestra Wealth LLP, a new exciting wealth management firm. With the greater freedom and flexibility that this brings to his role, together with the significant research capability of Vestra, we feel that this can only enhance the service to PIMS clients. 7
  9. 9. What might my PIMS 1 portfolio look like? The look of your individual portfolio will depends on your individual attitude to investment risk. PIMS 1 drills down this assessment through analysis, and provides you with nine portfolios that are set to unique risk settings (note: it is possible to change setting during a review if your circumstances have changed). Each of the nine portfolios reflects a blended setting between the three specially created Elevation investment funds. A typical portfolio will be invested in a range of funds, split between equity-based and fixed interest funds. The grid below illustrates the likely blending between each fund set against each risk portfolio. The Asset Management Portfolios Risk Portfolios 1 2 3 4 5 6 7 8 9 Cash 100 20 0 0 0 0 0 0 0 Elevation Cautious Managed 0 80 100 60 45 25 10 5 0 Elevation Balanced Growth 0 0 0 25 35 40 50 25 0 Elevation International Equity 0 0 0 15 20 35 40 70 100 Introduction to the nine Investment Portfolios… 16% Property 20% Property 100% 20% 64% 80% Cash Cash Bonds Bonds Risk Profile 1 Risk Profile 2 Risk Profile 3 12% 9% 5% 20% Property Property Property Bonds 15% 20% 36% Int’l Int’l Bonds 35% 48% Equities Equities Int’l Bonds Equities 40% 25% 35% UK UK UK Equities Equities Equities Risk Profile 4 Risk Profile 5 Risk Profile 6 2% 8% 1% 4% Property Bonds Property Bonds 25% 40% UK Int’l Equities Equities 70% 100% 50% Int’l Int’l UK Equities Equities Equities 8 Risk Profile 7 Risk Profile 8 Risk Profile 9
  10. 10. 9
  11. 11. ▲▲ PIMS LEVEL 2 — Open Portfolio Management What is it? What are the benefits ▲ PIMS Level 2 provides pro-active management for investors with a for me? need for a diverse choice of investment funds and fund managers ▲ Pro-active fund management model with access to best of breed ▲ PIMS 2 is a ‘model portfolio’ service, which means that each funds, and the ability to deal with the need for diversification member is matched with a model asset allocation portfolio that reflects their individual attitude to investment risk ▲ Rebalancing of model portfolios on a six monthly basis, as required ▲ The model portfolio is made up from a broad selection of ’best of ▲ Service provided within the fund structure at a competitive cost breed’ funds reflective of the management resource required to monitor a diverse portfolio of world wide funds. ▲ PIMS 2 provides streamlining of fund administration onto one administration platform. This means one fund report irrespective of how many funds are used by the manager. How does it work? ▲ PIMS 2 sets 10 risk settings, which cover the full range of individual risk profiles. This service operates between risk setting 2 ‘low risk’ Why should I invest in and 9 ‘high risk’ (risk settings 1 & 10 are extreme, and outside of the remit of the PIMS 2) this solution? ▲ Each risk rating is known as a model portfolio setting ▲ Careful analysis of your investment profile in alignment with model portfolios ▲ Each portfolio setting has its own asset allocation weighting to reflect investment risk (i.e. cash, equities, property, fixed interest ▲ Ability to deal with diversification funds etc) ▲ Full and open choice of leading fund managers ▲ Each model portfolio setting then chooses within its asset allocation weighting a selection of funds that are picked from the whole ▲ Quality reporting & real value to manage a market place, based on research of performance, financial strength diverse portfolio. and strategy ▲ Each model portfolio is then re-assessed on a six monthly basis and rebalanced to the original asset allocation ▲ Clients are provided with half yearly reports. 10
  12. 12. ▲▲▲ PIMS LEVEL 3 — Discretionary Wealth Management Bespoke investment management service from Cambridge Investments Limited In view of the time, skill and resources required to deliver a pro-active ▲ Bespoke service – The service is personal to you, with a bespoke approach to investment management; Perspective run this service portfolio created for each of our member clients through Cambridge Investments Limited. ▲ Value for money – PIMS 3 is the most bespoke of all of our services. ▲ Empowerment – PIMS Level 3 empowers your fund manager to The objective of the service is to deliver added value to your make day to day investment decisions on your behalf – with full investment over a reasonable period of time powers to buy or sell an investment. This service ensures that our managers are empowered to take quick advantage of opportunities ▲ Peace of mind – Many clients who have been members of PIMS 3 when they arise or be defensive on your behalf for several years find peace of mind from the knowledge that their investments are personally reviewed on a daily basis. Particularly in adverse market conditions. Why should I invest in this solution? ▲ You should consider discretionary day to day management ▲ You may have a complex portfolio that needs pulling (PIMS 3) if you are at a significant stage of your together with a cohesive plan – PIMS 3 will achieve this investment cycle and wish to ensure your savings are for you enhanced as well as preserved ▲ You want to fully utilise the skills and expertise of a ▲ PIMS 3 provides the most hands on management of all of professional fund manager, who will be responsible for the services as it is personal to you your personal requirements. 11
  13. 13. Which level is best for me? A comparison of PIMS 1-3 PIMS LEVEL 1 PIMS LEVEL 2 PIMS LEVEL 3 FEATURE Portfolio Fund Open Portfolio Discretionary Wealth Management Management Management Who is it for? Designed for individuals that are Designed for individuals that have Designed for individuals that have relatively new to investing experience in the investment world created wealth and wish to maintain and require consolidated reporting as well as enhance it – with peace of mind What is the 0 - £100K Plus Circa £100K Plus Circa £250K Plus suggested range of investment? Report and Simple/straightforward reporting Consolidated reporting Bespoke service and reporting valuation style The funds Utilisation of three funds – blended Utilisation of model portfolios Utilisation of bespoke, unfettered to match your risk profile through open architecture platform structures (wrap) Annual Up to 0.85% Up to 1.25% Up to 2.20% management charge Your IFA will now be able to organise the structures for you. This can include new investments or transfers from existing investment contracts such as Bonds, ISAs, PEPS or Pension Contracts; or re-registration. WHAT NEXT? Once the investment structures are completed you will receive a contract pack which will include confirmation of the detail of your PIMS service including contact points and the detail of the promise of service. In the meantime should you have any queries about PIMS then please contact our dedicated PIMS team on: Tel: 01908 574782 pims@perspective-group.com 12
  14. 14. Perspective Financial Management Limited | The Old Library 24 Walker Avenue | Wolverton Mill | Milton Keynes | MK12 5TW tel: 01908 579665 | fax: 01908 579664 | www.perspective-group.com Perspective Financial Management Ltd and Cambridge Investments Limited are part of the Perspective Financial Group, one of the fastest growing financial services groups in the UK. Launched in April 2008 as a consolidation vehicle within the financial services industry, Perspective Financial Group’s objective is to create a market-leading advisory group that is recognised as a provider of high quality independent financial advice. Both Perspective Financial Management Ltd and Cambridge Investments Limited are authorised and regulated by the Financial Services Authority.

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