Quilter Investors issues warning on most of its Cirilium Active range as part of ongoing portfolio adjustments, highlighting performance concerns and strategic enhancements including new hedge fund strategies.
Quilter Investors has put a warning flag on most of its Cirilium Active multi-asset range, with the firm’s latest assessment of value also highlighting concerns across a number of its sub-advised funds, according to Investment Week. The move points to continued pressure on parts of the business where performance has lagged expectations, even as the wider Cirilium range remains a central part of Quilter’s multi-asset offering.
The Cirilium range is split into Active, Blend and Passive styles, with five risk settings from Conservative to Adventurous. Quilter says the portfolios are designed for long-term capital growth over 5 years or more and invest across a broad mix of assets, including equities, fixed income, alternatives, cash and currency. The company has also been updating fund objectives and policies across the range, including changes to the Cirilium Adventurous Blend Portfolio, which is set to target capital growth over 5 years or more with equity exposure of 55% to 100% and annualised volatility of 15% to 19%.
Performance has been mixed across the active range. In its second-quarter 2024 report, Quilter said the Cirilium Active portfolios returned between 0% and 0.5%, with equity markets providing most of the support and alternatives making a positive contribution. The firm said holdings outside US technology were a drag on returns, while Japanese equities were increased and healthcare exposure was trimmed.
The broader group has also been adjusting the Cirilium line-up elsewhere. In August 2024, Quilter added the Goldman Sachs Absolute Return Tracker fund to its Cirilium Passive Portfolios, introducing a hedge fund replication strategy to the range for the first time. That change was presented as a way to broaden client exposure without adding extra cost, underlining how Quilter is trying to refine its portfolio mix even as parts of the active franchise come under scrutiny.
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