Tomorrow adds new funds to external fund link offering

Tomorrow has enhanced the number of funds available through its pensions range, by adding two Fidelity International funds and one Invesco Perpetual fund to its platform.

The Fidelity Multi-Asset Strategic Fund provides multi-level diversification and is designed to perform in all market conditions by providing a balanced exposure to five asset classes. The Fidelity MultiManager Distribution Fund is a key addition to the Fidelity MultiManager Funds which Tomorrow already link to.

Finally the Invesco Perpetual Monthly Income Plus Fund is an important addition to Tomorrow’s fund range, offering exposure to an expertly managed mix of equities and bonds.

Both Fidelity and Invesco Perpetual already offer a range of funds through the platform and bring a wealth of experience, not least through the fund managers, which include:

Fidelity MultiManager Distribution Fund - Richard Skelt
Fidelity Multi-Asset Strategic Fund - Trevor Greetham
Invesco Perpetual Monthly Plus Fund - Paul Causer, Paul Read & Neil Woodford

Ray Chinn, Product Design Manager for Pensions at Tomorrow commented, “We are very glad to be in a position to offer our customers the option to invest in all three of these funds. The Fidelity Multi Asset Strategic Fund provides a link to a relatively new fund, whereas the Invesco Perpetual Monthly Income Plus Fund is an established top seller – this contrast further demonstrates our commitment to offer real diversity through our range of external links with high quality investment management groups.

“We strongly believe that through our internal funds, external fund links (strengthened by these new additions), and links with Fidelity FundsNetwork and Discretionary Management partners through our SIPP wrapper, we offer advisers a highly attractive range of investment choices – to suit the majority of client requirements within a pensions wrapper.”

Michael Jones, Head of Financial Institutions, Fidelity International added: “ We are delighted that both our Multi-Asset Strategic Fund and MultiManager Distribution Fund, which have both been well received in the marketplace, are now available on the Tomorrow platform. Tomorrow’s clients can now access an even wider range of Fidelity Funds - 12 funds in total – consisting of 9 single manager funds and 3 of our multi-manager funds.”

Craig Newman, Sales Director, Invesco Perpetual added, “We are extremely pleased that Tomorrow are adding the Invesco Perpetual Monthly Income Plus Fund to their pension range. The fund combines the bond and UK equity income investment expertise of three of our most highly regarded fund managers - Paul Causer, Paul Read and Neil Woodford - and its potential to generate strong monthly income together with the opportunity for capital growth continues to make it a firm favourite with investors.”

Charges

Annual investment management charges for the external fund links range from 0.8% to 1.94%. The three new funds are priced at 1.25% for the Fidelity Multi – Asset Strategic Fund, 1.94% for the Fidelity MultiManager Distribution Fund and 1.20% for the Invesco Perpetual Monthly Income Plus Fund.

Fund details

Tomorrow offers external fund links from Blackrock Merrill Lynch, Fidelity, Invesco Perpetual, Liontrust, Newton and Schroders across its range of pension products. This is in addition to a range of ‘internal’ funds whose assets are managed by State Street Global Advisors, Goldman Sachs Asset Management, GE Asset Management, Schroders Investment Management and Credit Suisse Asset Management.

The funds available on the Tomorrow platform are complemented by a link to Fidelity FundsNetwork – offering a choice of over 1000 funds, and the opportunity for bespoke investment portfolios to be built through the Discretionary Pension Portfolio product with links to four leading discretionary managers – Cazenove Capital Management, Citigroup Quilter, Rathbones and Tilney Investment Management.