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Advice firm unveils portfolio management service

It will feature a mix of active and passive funds

Hong Kong and UK-based Charlton House Wealth Management has partnered with Morningstar Investment Management Europe to create a portfolio management service, our sister publication International Adviser exclusively revealed.

The Charlton House International Portfolio Service will offer a range of different risk-rated portfolios from cautious to adventurous. The portfolios will be available in pound sterling and US dollars.

The portfolios consist of between 20 to 30 funds, featuring mainly passive index funds & ETFs but also including actively-managed funds where appropriate.

They are available to the firm’s UK and Hong Kong clients. But due to the firm’s licences in the Special Administrative Region – Charlton House can manage the portfolios on a discretionary basis in Hong Kong.

UK-based clients will be able to access the portfolios through Charlton House on an advisory basis, then Morningstar will operate them on a discretionary basis.

Natural fit

David Snelling, founder and chief executive of Charlton House Wealth Management, told IA: “I’ve worked with Morningstar for the past six or seven years. I’ve subscribed to some of their software, which we have used in-house for undertaking research, gathering data and providing our clients with bespoke quarterly investment reporting.

“We undertook a thorough review of our investment proposition. Morningstar were a natural fit for us, primarily because they’ve got a great depth of expertise in house.

“They have a good depth of research and global presence. It was that international offering that made me feel that it was a good fit to start working with them to help and construct our own portfolio service.”

Snelling also said that the service is a “good win” for clients as the portfolio’s construction process has been enhanced and costs have decreased.

The underlying cost of the portfolios is around 0.5%.

Steve Croucher, managing director of Morningstar Investment Management Europe, added: “We are delighted to have been selected by Charlton House and are looking forward to working more closely with them as we deliver these international investment services for them.”

Part of the Mark Allen Group.