RSMR is dropping VAT from the 0.15% annual management charge on its Managed Portfolio Service (MPS).

The change applies to all 12 portfolios in the RSMR MPS: the three Responsible Portfolios and the nine Active 2-10 Portfolios.

RSMR joins a growing band of investment firms removing VAT.  Fund managers who have axed VAT recently include Charles Stanley, 7IM, Brooks Macdonald and AJ Bell.

RSMR’s MPS portfolios are risk profiled by Dynamic Planner and Synaptic and are available on the 7IM, Aviva, FundsNetwork, Nucleus, Quilter, Standard Life Wrap and Transact platforms and shortly on Standard Life Elevate.

RSMR launched its first MPS Responsible portfolio, RSMR Responsible Balanced five years ago. RSMR Responsible Cautious and RSMR Responsible Dynamic celebrate their three-year anniversaries in March.

Company co-founder Ken Rayner said: “We have been supporting the advice sector by rating funds since our launch in 2004, including responsible funds since 2012, and we have been managing portfolio solutions for the sector since 2012.

“We want to ensure that the RSMR MPS, comprising our best fund ideas and underpinned by our highly respected expertise and experience, remains a compelling solution to advice businesses.”

RSMR provides independent investment research and marketing support to advice businesses and the asset management and DFM sectors.