Close Asset Management is adding to its discretionary offering with the launch of a range of multi-asset funds targeted at independent financial advisors with smaller portfolios, Citywire reports.

The launch of the Close Discretionary fund range is part of the firm’s strategy of garnering IFA assets and strengthening ties with intermediaries in the run up to the Retail Distribution Review. (To see an interview with the CEO and head of wealth management on this matter click here.)

It is reported the funds will soft launch in September covering a range of investment profiles, subject to regulatory approval, and invest in multiple asset classes both through direct securities and collective vehicles.

A minimum investment of £1,000 (around $1,560) will be required and the funds will be offered alongside the firm’s Managed Portfolio Service, which includes a range of model portfolios for clients with over £200,000 and a bespoke discretionary service for clients with over £500,000, the news service reports.

“With RDR in mind, we want to position ourselves as a key provider for IFAs and this is an extra service that widens our proposition for IFAs, their legacy clients alongside our existing clients,” said Robert Imbert, director of intermediary sales, according to the publication.