Fairstone hits £1bn of assets in flagship Nova MPS range

Fairstone’s flagship Nova MPS range has already surpassed the £1bn mark just a year after it was launched.

The milestone was revealed during an event on London’s Embankment to mark the first anniversary of the Nova range.

Attendees heard how Fairstone’s initial £500m seeding of Nova has already been more than matched by inflows from retail investors attracted by its combination of institutional-grade investment solutions and competitive pricing.

Nova was launched in conjunction with a broader strategic partnership with J.P. Morgan Asset Management.

The Nova range is managed by Fairstone’s in-house investment management team and features segregated mandates run by J.P. Morgan Asset Management as cornerstone solutions.

Fairstone CEO Steven Cooper CBE said: “Surpassing the £1bn assets mark in such a short space of time is testament to the attractiveness of the Nova range and the hard work which has gone into its creation and development.

“The in-depth global expertise and outstanding investment track record of J.P. Morgan Asset Management combined with Fairstone’s exceptional client service and high levels of client trust has proved to be a potent recipe for retail investors.

“We’re delighted that so many clients have already taken the opportunity to put their trust in us and their investments into Nova and we look forward to further strengthening and deepening our strategic partnership with J.P. Morgan Asset Management in the years to come.”

In addition to Nova, the strategic partnership between financial planning and wealth management group Fairstone and J.P. Morgan Asset Management also includes sharing insights and expertise across the two institutions.

Nick Stebbing, Chief Product and Proposition Officer at Fairstone, said: “The success of Fairstone Nova is a great example of what Fairstone Investment Management was set up to do: to use our scale and know-how to give our clients access to market-leading investment solutions at a highly competitive price.

“Nova bridges a significant gap in the market by delivering institutional-grade solutions previously accessible only to large institutions to retail clients.

“The first year of this strategic partnership with J.P. Morgan Asset Management has been hugely beneficial not just for our clients but also for us as a business by delivering significant efficiencies to our advisers, allowing them to focus on financial planning.

“We look forward to developing the collaboration further and to working with the excellent team at JPMAM.”