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Momentum Global Investment Management removes VAT charges from its Model Portfolio Service

Momentum Global Investment Management (MGIM) will stop applying VAT on its Model Portfolio Service (MPS) with effect from September, following recent guidance from HMRC.

MGIM has initiated the changes on all the platforms it works with, and the removal of VAT payments will apply to the whole of its risk-rated model portfolio range and reduce ongoing management fees to a competitive 0.25%.

The range offers 7 multi-asset risk rated growth portfolios and an income portfolio ranging from risk 3 to 8.

This comes as the portfolios continue to deliver against its ‘outcomes-based’ investment philosophy, which embeds multiple diversification levers to help smooth the investment journey for clients.

The model portfolios are now available across 11 fund platforms and are ideal for clients who are looking for an investment solution that has a clear outcome, is benchmark agnostic, and who want a steady return from their investments with a defined level of risk and have lifetime goals in the medium to long term.

Ferdi van Heerden, Chief Executive Officer at MGIM, said:

“We are pleased to announce that VAT charges will no longer apply to our range of portfolios. Our outcomes-based investing approach has been much in demand over the past year as markets suffered from periods of extreme volatility and advisers sought the core component for client portfolios. By reducing our fees through the removal of VAT charges, we are making our offering even more competitive so that even more end investors can benefit from our investment approach.”

Steve Hunter, Head of Business Development at MGIM, said:

“Despite the challenging market conditions over the past year, our model portfolios have continued to deliver and maintain the consistency that our supporting advisers have come to expect and appreciate in these volatile times. Advisers are increasingly attracted to our outcomes-based investment approach, which seeks to both manage risk and deliver consistent returns through diversification and optimisation. With our managed portfolios delivering for investors, available on more platforms than ever before and now with reduced charges, we look forward to working with more advisers (and their clients) with these core investment solutions.”

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