Heartwood Wealth Management, the independently owned UK wealth manager, is launching a new range of multi-asset funds designed to deliver long term investment returns at a defined level of risk to its clients.

Two of the funds – the Cautious and Growth Multi-Asset funds – have already been launched, while the Balanced and Balanced Income funds will be launched at the end of the first quarter of this year.

“The Heartwood Multi Asset funds will provide our clients with access to a range of strategies and the associated returns on a cost and tax efficient basis,” said Guy Hudson, head of client services and distribution at Heartwood.

In line with the firm’s investment approach, the funds will invest predominantly in third party funds, including alternatives, structured products and derivatives. The Cautious, Balanced and Balanced Income funds will target a total return, while the Growth fund aims to deliver capital growth.

The funds – denominated in sterling – are structured as a Non-UCITs Retail Scheme, which the firm says offers the same level of protection as UCITs funds to UK investors but with greater flexibility in terms of the underlying investments.

A number of share classes are available with differentiated minimum investments; the B class share has an annual management charge of 1.25 per cent and a minimum investment of £5,000 (approx $8,000).