The Tilney Sustainable Adventurous Portfolio fund has been added to the Tilney Active Portfolio fund range.

It will have a 1.59% ongoing charge figure, inclusive of a 0.75% annual management fee and the costs of the underlying funds.

It will be availible on platforms including Aviva, Standard Life Elevate, Pershing Nexus, and Tilney’s own platform Bestinvest.

The Tilney Active Portfolio fund range was launched in 2009 as a unit trust and later converted to an ICVC.

The existing sustainable fund, with over £300m in funds under management, has been renamed the Tilney Sustainable Cautious Portfolio to clearly differentiate the two strategies.

While there will be a fair amount of commonality in the underlying funds selected between the two funds, the Sustainable Adventurous Portfolio will have a circa 75% allocation to equities, compared to 45% in the existing Sustainable Cautious fund.

For diversification purposes the Sustainable Adventurous fund will also have allocations in real assets such as energy efficiency and renewable infrastructure projects, bonds, ethically sourced physical gold and cash.

The lead manager for Tilney Sustainable Adventurous fund will be Genevra Banszky von Ambroz, portfolio manager on both the Tilney Sustainable Cautious Portfolio and the Tilney Sustainable MPS range.

The portfolio will be comprised of third-party funds that back companies involved in areas such as the conservation of energy and natural resources and resource efficiency; sustainable transport and infrastructure; the provision of high quality products and services of long-term benefit to society; and, companies that support the UN’s Sustainable Development Goals through robust human rights policies, community involvement and the development of staff.

It will also seek to avoid funds with direct exposure to companies involved with the production of alcohol for consumption, gambling, palm oil, armaments, pornography and tobacco.

Ms Banszky von Ambroz said: “We have had strong client and adviser demand for a sustainable multi-asset fund with a higher weighting to equities, suited to investors with a long-term horizon and greater risk appetite.

“The aim of the funds is to provide investors with a single, ‘one-stop –shop' pooled investment solution, diversified globally that meets their needs and aligns with their values."

Tilney’s ethical and sustainable investment solutions include bespoke portfolios, a sustainable managed portfolio service, and an existing pooled fund.