Felicia Hjertman, former co-manager of the Baillie Gifford Japanese Smaller Companies fund, has vowed to ‘shake up’ the investment platform market with a DIY investor service offering access to a select number of funds.
The funds supermarket, called Vinco, will allow retail investors to pick from a restricted selection of actively managed and passive index-tracking funds, with several filters to allow easier selection.
‘Current fund supermarkets overwhelm even experienced DIY investors with too much choice and jargon, leaving investors craving for clarity and better guidance,’ Hjertman said.
Vinco will launch with access to 50-100 funds and its annual charges will start at 0.4% of money invested.
Hjertman (pictured) is working with Gavin Haynes and Ben Yearsley of Fairview Investing to launch Vinco, and is raising a pre-seed funding round of £500,000.
Haynes and Yearsley
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Vinco has yet to reveal which funds have made the cut onto its platform.
‘There are over 3,000 funds to choose from in the UK today. Choice is good, but too much choice can be overwhelming,’ Hjertman added.
‘The DIY investment market needs to be shaken up and brought into the 21st century. The information required to make informed decisions is often lacking on today’s platforms and the digital experience isn’t doing enough to help retail investors understand what they own and how much they are paying for it.’