Abrdn Wrap has added its first with profits fund to its platform, Wesleyan’s With Profits Growth Fund.

Mutual Wesleyan’s fund is believed to be the first smoothed with profits fund to join the Abrdn platform.

Wesleyan says the fund is designed to sit on independent adviser platforms and joins more than 4,000 mutual funds from more than 180 fund managers on the Abrdn Wrap.

Russell Bignall, managing director at Abrdn, said: “We’re pleased to announce the addition of the Wesleyan With Profits Fund on Abrdn Wrap. It’s all part of our work to offer advisers and their clients greater investment choice on our platform.”

Karen Blatchford, managing director of intermediary distribution at Wesleyan, said: “The launch of our With Profits Growth Fund on Wrap means that it is now available on more independent platforms than any other smoothed With Profits fund.

“We’re proud to be partnering with Abrdn and will continue to be a first mover in this space, with continued innovation and investment in making smoothed With Profits as accessible as possible in the platform era at the heart of our approach.”

The Wesleyan With Profits Growth Fund invests in a range of asset classes to diversify risk and applies a smoothing mechanism to mitigate short-term price fluctuations. It offers daily pricing, daily trading and daily smoothing.

Wesleyan is a mutual founded in Birmingham in 1841 and is still based in the city. It provides specialist financial advice and solutions for doctors, dentists and teachers. The Wesleyan Group has £7.6 billion of assets under management as at 31 December 2023.