Seven Investment Management (7IM) has launched a range of “ultra-low cost” model portfolios, which charge 0.15 percent plus underlying fund charges.

Called the 7IM Pathway range, this selection of multi-asset model portfolios aims to offer advisers a way to create a well-diversified portfolio of passives.

The range will be rebalanced each quarter, “with the flexibility to change the asset allocation at any time to ensure they are still aligned with the overall strategic asset allocation”, the firm said in a statement.