Square Mile Investment Consulting & Research has been chosen by retirement income provider Retirement Advantage to provide fund selection, asset allocation and ongoing investment performance monitoring. This service will form part of a new retirement solution, The Retirement Account, to be launched by Retirement Advantage later in 2015.
The initial selection of nine funds has been compiled with reference to Square Mile's qualitative assessment and encompasses three distinct approaches: outcome, Investment Association sector-defined and total return income biased approaches.
For each approach one fund has been selected to meet cautious, balanced and adventurous risk appetites, with cost an additional consideration. Funds will be set criteria against which they will be assessed to justify their continued inclusion with those failing to do so being removed; Square Mile may add to this core list over time. The range is biased towards defensive funds.
In addition, Square Mile will manage asset allocation on behalf of Retirement Advantage across three portfolios of passive vehicles from Vanguard Asset Management. These funds of tracker funds will be designed to meet those with differing risk appetites: cautious, balanced and adventurous.
These developments come as Retirement Advantage prepares to launch its Retirement Account, a solution designed to offer those nearing and in retirement a highly flexible approach to meeting their specific financial objectives.
Peter Carter, Product and Marketing Director at Retirement Advantage, said, "The depth of Square Mile's qualitative fund research gives us full confidence in the investment propositions they have selected to underline our new flagship retirement solution. With greater freedom over investment choice at and beyond retirement comes greater responsibility for ensuring fund selections are fit for purpose: Square Mile has built a reputation for highlighting vehicles that closely meet specific objectives."
Mark James, Client Relationships Director at Square Mile, said, "The pensions freedoms introduced earlier this year have created an unprecedented opportunity for those saving for retirement to take complete control of their finances. Retirement Advantage is very well-respected as an innovator in its field and its Retirement Account is set to be a market leader. To be chosen by a company of this calibre as a partner in identifying investment excellence is a great accolade and we look forward to a close working relationship."
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