Netwealth has launched a Managed Portfolio Service (MPS) for independent financial advisers, comprising seven risk profile options.

Netwealth, which was founded in 2015 and describes itself as a “challenger wealth manager”, said the portfolios would have strategic allocations to currencies as well as asset classes, meaning investors were diversified via unhedged international equity exposure.

The firm said the MPS will typically invest through passive instruments such as ETFs, but decisions about asset and currency allocations will be actively managed by the business’ dedicated investment team on a cyclical basis....