Evercore Pan-Asset Capital Management, the London-based discretionary investment manager, has launched two new OEIC funds with opposing risk profiles, having received approval from the UK regulator, the Financial Services Authority.

The two products, named the PanDYNAMIC Defensive and Aggressive Funds, join the existing Balanced and Growth OEIC funds in the PanDYNAMIC range. The Defensive fund will be 90 per cent invested in defensive fixed income assets, while only the remaining 10 per cent will be allocated to risk assets such as equities and property funds. Conversely, as its name suggests, the Aggressive fund will normally be invested entirely in risk assets.

Evercore Pan-Asset’s PanDYNAMIC OEICs are based mainly on index-tracking ETFs - an investment approach that the firm says is core to its philosophy and which allows it to provide a professional asset allocation service at a low cost.

“The Defensive and Aggressive funds have been launched following demand from the market for an extended range of risk profiles.  These new funds follow the same process as the Balanced and Growth funds and we expect them to be as successful. We are delighted to now be offering PanDYNAMIC funds spanning the full risk spectrum,” Christopher Aldous, chief executive of Evercore Pan-Asset, said in a statement.