The VT Downing Fox Fund range comprises of four funds of funds with differing fixed levels of equity exposure.
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The exposure options are 100%, 80%, 60%, or 40% of long-only equities, while the funds hold a global remit, the company said.
The non-equity component comprises a mix of developed-market cash and government bonds.
Evan-Cook explained the Fox fund range's funds with non-equity holdings "can have significant exposure to cash if we believe is the best defensive option", as he noted such a position was a "huge advantage last year".
He added most multi-asset portfolios will not do this, "largely because clients do not like paying management fees on cash".
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That is why Downing will not charge management fees on the non-equity parts of the funds, he said.
Evan-Cook has been running a similar investment model at Downing since April 2022 for the VT Johnston Cautious Portfolio and the VT Johnston Growth Portfolio, which run on 40% and 80% equity exposures, respectively.
The VT Downing Fox Fund range has been designed specifically for UK financial advisers and will be available for investment from June 2023.