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The Core Solutions share the following characteristics: Rayner Spencer Mills Research (RSMR) initiate their inclusion based on our requirements and give the fund an RSMR ‘Best of Breed’ rating. The funds are risk rated by RSMR on their own 1 to 5 scale and mapped across to the 1 to 10 scales used by both Distribution Technology and Tillinghast Towers Watson. The funds are multi asset in nature. There is a mechanism or facility operating within the fund that allows for it to be re-balanced either automatically or by requiring limited intervention by the adviser over a prolonged period of time. RSMR must be able to report on the fund quarterly to In Partnership.

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1. Investment Trusts - With the regulatory environment for IFAs requiring that independence is demonstrated in the product range offered to clients, the use of investment trusts has become a pressing issue to many advisers.In response to this changing situation, we have extended our available research into this area of the market.

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2. Additionally Reviewed Funds – Life & Pensions and Mutual - These are often provided by the larger life companies. The fund will be given a ‘fit for purpose’ rating by RSMR and a comment will be made by RSMR on the risk rating that the provider has given their fund. Where there are a range of multi asset risk rated solutions there is an internal mechanism operating within the fund to ensure that it is re-balanced or reviewed in order to maintain its given provider risk rating without requiring action from an adviser. RSMR will report on these funds a minimum of once a year.​

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3. Rated Funds Range - We have seen a huge rise in the availability of both risk targeted and return focused funds. These funds are often one of a range of four or five funds that have been mapped across a number of risk profiling tools and are managed in line with differing risk parameters. Some ranges have been launched from new, some new funds have been launched and added to an existing range and some existing funds have been adapted and added to an existing range.In many cases the range is overseen by a single manager or investment team using a consistent process. It therefore makes sense to rate the range rather than the individual funds.

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4. Rated SRI Funds (Socially Responsible Investing) - At the request of clients and as a result of increasing client’s awareness, we have created a list of ethical funds with an accompanying SRI guide.

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5. Satellite and Managed Fund List - We understand that it may be appropriate to adopt a core and satellite approach with clients’ investments and that on occasion there will be demand for a fund from a particular sector. We therefore maintain a list of around 330 sector funds on which appropriate research has been conducted. All the funds in this list have an RSMR rating.

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