dVAM

Summary

dVAM (deVere Asset Management) Limited was incorporated in the British Virgin Islands and is part of the deVere Group. It was established in 2018.

dVAM works with product manufacturers of new fund products and it's role is to act as an intermediary between Investment Managers and investors. The suite of dVAM mutual funds includes multi-asset funds and equity funds, which are distributed by employees of deVere Group to their retail clients.

> Some of the funds are sub-managed by established and well-known firms.

> Advisers proposing these funds can use expensive share classes which pay trail commissions and charge entry fees.

> Generally not sold by independent advisers outside of the deVere Group.

> Share class fees are not explained clearly on their website.

Overview

dVAM provides investment solutions to the global clients of it's parent company, deVere Group Limited and it's subsidiaries. dVAM states that whilst the Investment Manager remains responsible for the Company on a legal and regulatory basis, dVAM's role is to bridge the gap between the Investment Managers and their investors.

Pacific Capital Partners Limited (the Investment Manager), launched a range of Irish UCITS funds which are regulated by the Central Bank of Ireland, and exclusively distributed by deVere Group Ltd. The dVAM funds are sub-managed by independent FCA regulated investment firms including GAM International, Fulcrum Asset Management, Guinness Asset Management and Threadneedle Asset Management.

dVAM states that it's role is to make recommendations to the Investment Manager regarding the selection of the Sub-Investment Managers to the dVAM Funds based on feedback from IFA's and Investors.

Information on dVAM is limited, and their website does not provide a great deal of detail regarding the performance of the funds but merely lists the endless range of share classes that can be bought, some of which are expensive and charge entry fees as high as 4% and ongoing fees in excess of 1.85%.

If you hold these funds in your portfolio, contact us to get a second review and you may be surprised as to how much you are actually paying in fees every year.

Final Verdict

We believe that there are more cost effective, more transparent and potentially better performing investment options. It does not make sense to invest in these funds through dVAM when you are able to simply buy the sub-manager funds directly on an investment platform or through an investment bond.

It is likely you will not be offered to invest in these funds through an adviser that does not work for the deVere Group. Salespeople promote these funds through the pressure of upper management to make more money for the company. Salespeople also have the opportunity to earn more money from your savings by investing you in these funds, to the detriment of the performance of your portfolio. We believe that there more suitable alternatives.

If you hold these funds via an offshore bond or platform, you should double check which share class you hold as it could be costing you more than you need in fees and performance.

Himalaya

Get in touch

Whether you need a second opinion, want to find a qualified adviser, or just have some questions, Expat Money is here to help.

We'll call or email, learn about you and take you through your options.