Quintet Private Bank, the Luxembourg owner of UK Financial Planner and wealth manager Brown Shipley, has partnered with asset manager BlackRock to launch an actively managed US equity fund.

It is planned to be the first in series of multi-manager UCITS funds available exclusively to the company’s clients.

Subsequent funds will be launched by the end of May covering global high-yield bonds, continental European equities and global investment-grade corporate bonds. 

Quintet said each of the actively-managed, single asset class funds will blend a selection of third-party managers into one fund that will aim to support portfolio performance and enhance diversification.

The initial fund, QMM Actively Managed US Equity, has received regulatory approval and is available for investment exclusively by Brown Shipley and Quintet Group clients, including as part of the private bank’s flagship portfolios.

The US dollar-denominated fund aims to outperform its benchmark by combining actively managed US equity strategies favouring different styles.

Quintet will use Aladdin, BlackRock’s proprietary investment technology platform, for its risk analytics and reporting.

Bryan Crawford, Quintet Group head of investment & client solutions, said: “As we look ahead to the launch of additional funds with BlackRock, we are excited about providing our clients with access to a broader universe of investment opportunities.”

Bettina Mazzocchi, co-head of wealth solutions EMEA, multi-asset strategies & solutions at BlackRock, said: “Each of the funds has been tailored to meet the needs of Quintet’s clients and draws upon BlackRock’s investment expertise and the strength of our risk-management platform to drive product and portfolio innovation.”

Quintet Private Bank heads a major European network of private banks and wealth managers from its Luxembourg base. Its UK business Brown Shipley has offices in London, Manchester, Birmingham, Cambridge, Leeds, Edinburgh, Norwich and Nottingham.