Financial services mutual provider Wesleyan has expanded its with profits fund range with the launch of two new with profits funds aimed at the adviser market.
The new funds are the With Profits Cautious Fund and With Profits Adventurous Fund.
The firm says they are designed to help advisers meet a, "broader range of client objectives", and will add to Wesleyan’s flagship With Profits Growth Fund.
With profits funds, once the mainstay of the adviser market, use investment 'smoothing' to adjust returns over time and reduce the impact of day-to-day market volatility.
The Birmingham-based firm, which has £8.2 billion of assets under management, says the expanded range will give advisers three options with different risk profiles.
The Cautious Fund is aimed at clients with a lower risk appetite with the Adventurous Fund aimed at those seeking greater growth potential but willing to take more risk.
Wesleyan’s smoothed With Profits fund range is aimed at the independent adviser platforms and provides daily pricing, daily trading and daily smoothing.
Wesleyan claimed to be the first provider to make a smoothed with profits fund available on an independent adviser platform in 2021. Its expanded fund range will be available on third-party platforms, including Aberdeen, Nucleus, Wealthtime and Hubwise from this month.
Karen Blatchford, managing director, intermediary distribution at Wesleyan, said: "More advisers are looking for investment solutions that help clients to navigate market volatility while remaining focused on their long-term goals.
"Smoothing can play an important role in supporting better client outcomes, but advisers need access to solutions that reflect the differing needs and risk profiles of the people they advise. By expanding our with profits range, we're giving advisers greater flexibility to recommend a smoothed investment solution that is appropriate for a broader range of clients."
The launch follows a series of milestones in Wesleyan’s efforts to increase access to smoothing across the adviser market. Earlier this year, Copia Capital Management launched its Select Smoothed Portfolios range, incorporating Wesleyan, while Elston launched the UK's first multi-platform Smoothed MPS with a core allocation to the With Profits Growth Fund.
Wesleyan was founded in Birmingham in 1841.