Managed Portfolio Service – Target Market

Introduction

We manufacture and distribute a number of products and services. By considering the characteristics of the investment solution, this guide aims to demonstrate the Target Market that the product or service has been deemed potentially suitable (and unsuitable) for.

This information is intended to aid professional advisers in completing target market assessments. However, professional advisers should ensure their own target markets assessments are conducted and all their regulatory obligations, including those related to MiFID II, PROD and Consumer Duty, are adhered to.

Our approach to product governance

As a manufacturer of investment products and services, appropriate governance arrangements have been put in place to ensure products and services are designed to meet the needs and objectives of customers in the target market.

Our Governance Committees provide effective management and oversight of matters relating to the initiation, development and regular reviews of products, services, and distribution channels. The products and services that we manufacture and distribute undergo periodic reviews. These reviews consider risks that could materially affect the identified target market and also ensure that the product or service remains consistent with the needs of its target market.

In line with the new Consumer Duty requirements, we publish value assessment reports for each of our discretionary investment services.

Assessment of Financial Instruments

Where we act as a distributor of financial instruments through the inclusion of assets in portfolios, we assess the compatibility of these with the needs of end clients. Assessments include consideration of the clients’ risk appetite, the impact of costs and charges, and the financial strength of any product manufacturers. We also consider manufacturers’ defined target markets and the knowledge of our client base.

To ensure that financial instruments distributed to clients are fully understood, our investment managers are required to complete detailed due diligence on investments. For all instruments used within our Centralised Investment Process, this due diligence is reviewed and approved by the Asset Selection Committee. For further information on the details of our due diligence processes for financial instruments, please refer to our Standard Due Diligence Questionnaire.

In instances where adequate information is not publicly available from the manufacturer, we undertake additional due diligence to ensure that the target market can be determined with sufficient granularity.

See below documents related to each risk mandate within Oakham’s Managed Portfolio Service:

Target Market Statement Cautious July 2023

Target Market Statement Balanced July 2023

Target Market Statement Growth July 2023

Target Market Statement Adventurous July 2023

Target Market Statement Equity Risk July 2023