It is available across 12 platforms at a cost of 0.15%.

There are five other existing portfolios in the DFM’s passive range: moderately cautious, balanced, moderately adventurous, adventurous and adventurous plus.

The passive range was launched in 2019 using a streamlined version of the DFM’s strategic asset allocation process.

The 7IM MPS range consists of its passive, active, blended and responsible choice portfolios.

7IM launched the responsible choice portfolios last year.

Verona Kenny, managing director, intermediary at 7IM, said: “The new cautious model portfolio will offer advisers the perfect option for clients that have a very low risk threshold.

“We are launching this option as a number of our users expressed an interest in having a lower risk passive option.”

The DFM has seen strong financial results of late. In September the firm’s assets under management were £18bn, an increase of 24% year on year.

7IM was among a number of DFMs to remove VAT from their MPS earlier this year.

The DFM suspended two funds over liquidity concerns in March.

Trading was suspended in the £33m 7IM Absolute Return Portfolio and the £20m 7IM Income Portfolio funds. The move was taken due to “ongoing liquidity challenges” faced by both strategies, which were inherited by 7IM when it acquired Tcam Asset Management in 2018.

The funds were suspended to ensure further withdrawals would not result in “unacceptable levels of illiquidity”.