London-based Thomas Miller Investment has launched a new low-cost model portfolio with a range of six risk-graded funds for financial advisors.

The annual management charge will be 0.4 per cent per annum plus platform fees and the minimum investment will be £50,000 ($76,500).

The funds cover a range of risk and return profiles and will invest directly in equities and bonds, as well as active and passive funds where appropriate, the firm said. 

The new model portfolios have also been risk mapped by FinaMetrica on a scale of 0-100 against the risk-profiling tools it provides to financial advisors.

“The launch of our model portfolio service enables financial advisors to provide an efficient discretionary fund management service to a wider range of clients. Our transparent, highly-competitive charging structure and low total expense ratio will give financial advisors more freedom to address client needs and enables them to better explain and justify new charging structures for advice," said Des Hogan, head of business development at Thomas Miller Investment.

In other recent news, in March Thomas Miller Investment appointed Abi Oladimeji, its head of investment strategy, as a director.

Thomas Miller Investment has £2.6 billion in assets under management; it serves insurance mutuals, charities, pension schemes, governments and private clients.