In our suggestions to the FCA for the MPS review published this summer, we called for greater standardisation of rules between Multi-Asset Funds (MAFs) and Managed Portfolio Services (MPS). While the two formats differ in delivery, legal format, and tax treatment, they are similar in scope and function. Funds require: KIID, factsheets, benchmarks, and standardised performance reporting. MPS, by contrast, have no such requirements. This makes comparison difficult and transparency challenging.
So we very much welcome the FCA’s proposals in DP25/3 to align MAF and MPS disclosure and reporting standards. Greater alignment would help advisers and therefore their clients in three critical areas: consistency, comparability, and transparency. 
Find out more about the Elston Smart-Beta UK Dividend Index (ticker: ELSUKI)
For latest UK Equity Income index factsheet click here  Our founder Henry Cobbe was invited to speak to the key clients of Jupiter Asset Management on the future of multi-asset and MPS investing at their event at the National History Museum.
Full article to follow. 
What a budget. Our initial reaction is that the process leading up to it has been nothing short of shambolic. Endless leaks, speculation, and U-turns have exhausted everyone. Whatever happened to good old-fashioned purdah? Instead, we’ve had a free-for-all of briefings, capped off by a leak on the morning of the announcement - an extraordinary embarrassment that moved bond markets and undermined confidence in the OBR.
 We were honoured to see Elston Portfolio Management recognised with a 5 star award for Best Discretionary Fund Manager at the FT Adviser Service Awards 2025!
A huge thank you to all the advisers who voted! DFM services provided by Elston Portfolio Management using research, analytics and insights from Elston Consulting. Read the intereview with Henry Cobbe  This article has been circulated to our UK adviser clients and will be published to our blog shortly.
Read more to watch The UK's largest dividend payers: a systematic approach to UK Equity Income with Henry Cobbe, CFA and Robert Davies.
 Elston Consulting has designed the Elston Smoothed MPS solution that has been manufactured by Elston Portfolio Management for UK advisers.
The full article is in Money Marketing
The Smoothed Funds Survey provides a valuable look at adviser's current opinions, utilisation, and strategies regarding smoothed and with-profit funds.
Find out more about the Elston Smart-Beta UK Dividend Index (ticker: ELSUKI)
For latest UK Equity Income index factsheet click here
At Elston Consulting, we design investment solutions delivered as portfolios, funds and indices for our financial adviser, investment manager and fund provider clients. In the same way that advisers need to think about their target market of retail customers, we as a co-manufacturer need to think about our target market of UK financial advisers. Target market research and testing forms an important part of our solutions design process to ensure what we develop is helpful to UK advisers and solves a client need and can be clearly communicated. Thank you to those advisers that are participating in our market research surveys. It might give a clue as to what is currently in the laboratory!
As asset allocators we are aware of the surplus of funds in some areas, and glaring gaps in others. That’s why we maintain a wishlist which we share in our catch ups with fund houses. We are now making this public to drive industry engagement.
Long-term UK gilt yields are rising despite falling inflation expectations and BoE rate cuts. Explore how debt sustainability concerns and reduced demand for bonds are driving this unusual market shift.
UK equity income stocks are lower valuation/value bias so provide diversification against higher valuations/growth bias inherent in US equity exposure.
Find out more about the Elston Smart-Beta UK Dividend Index (ticker: ELSUKI)
For latest UK Equity Income index factsheet click here
With the dollar down 20% since 2022, hedging looks tempting. But UK debt, housing risks, and BOE policy suggest sterling could be even more vulnerable.
Parallels are drawn between the mid-1990s tech revolution and today's AI-driven surge in the US equity market. While valuations appear stretched, the underlying conditions are more measured than the dot com era. The US economy continues to show resilience with AI-led productivity gains and potential rate cuts shaping the outlook.
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