Investment office Sparrows Capital has launched its first model portfolio service (MPS), with what it describes as “price disruptive” fees of 0.1 percent.

The service, launched to coincide with that of the UK’s new £20 note, caps fees at £20 per month per underlying client.

The new range, called SCore MPS, comprises 11 factor tilted portfolios representing equity exposures from zero to 100 percent in increments of 10 percent.

It is available in a funds-only format, or as a combination of index funds and ETFs, and was created following research with financial consultancy the lang cat.