A Deep Dive into Timeline's Multi-Asset Fund Range - RECAP

During the recent Timeline webinar, Laurentius van den Worm explained that advisers had been asking for a simple and efficient way to deliver the evidence-based Timeline investment philosophy inside a single fund structure. Many firms rely on the wider Timeline ecosystem across planning, model portfolios and platform services. They wanted a structure that supports Capital Gains Tax planning, income planning and operational ease.

Advisers also wanted a product that maintains philosophical consistency with the existing Timeline tracker strategy, while providing more control over realised gains in taxable accounts. These themes came up repeatedly during adviser meetings and events.

Why Timeline mirrored the tracker strategy

Laurentius highlighted that the tracker strategy remains the most widely used investment approach across the Timeline range. Advisers value its clarity and the way it expresses the belief that global markets reward patient, diversified and cost-minded investors.

He referenced research showing that long-term returns tend to arise from broad-based market behaviour rather than any ability to forecast winners. Index methods are rules-based and reflect the collective expectations of global investors. The multi-asset funds follow the same philosophy.

Advisers who want to explore the evidence behind market efficiency can review the SPIVA research library.

Building a cost efficient structure for advisers

Laurentius described the extensive work undertaken to deliver the multi-asset funds at ongoing charges in the low twenty basis point range. Timeline evaluated several potential partners across the industry and selected Northern Trust because of their institutional scale, deep servicing capability and competitive pricing.

Northern Trust acts as the sub-investment manager, fund administrator, custodian and depositary. This combination supports efficient day-to-day management and reduces operational friction. You can learn more about their capabilities on the Northern Trust website.

The funds are overseen by an independent Authorised Corporate Director. This structure was designed to protect investor interests and align with the Financial Conduct Authority’s expectations for fund governance. Advisers can revisit relevant regulatory information through the Financial Conduct Authority.

Why the funds use a Nurs structure

Timeline selected a UK domiciled Nurs structure because advisers value the flexibility offered by this fund type. Nurs rules allow a single underlying fund to represent up to thirty four percent of total holdings, which makes it possible to replicate the tracker strategy cleanly. A Ucits structure would have imposed a twenty percent limit and created avoidable compromises.

Nurs funds also provide reliable access to excess reportable income data. Advisers had raised concerns that some non-UK structures create problems when obtaining tax figures from platforms. The Nurs structure helps address this and keeps reporting more consistent.

For further detail on fund classifications and reporting standards, advisers can consult Morningstar.

How the funds support adviser planning

Laurentius shared several planning scenarios raised by advisers that directly influenced the fund design.

Capital Gains Tax planning

Rebalancing within a multi-asset fund does not create Capital Gains Tax events for clients. This gives advisers more control over when gains are realised in taxable accounts.

Natural income requirements

The funds are available in accumulation and income versions, allowing advisers to support clients who require natural income within retirement plans.

Simple solutions for newer or smaller portfolios

Some advisers prefer a single fund solution for clients who are at the beginning of their investment journey. This reduces administrative workload and keeps portfolios clean.

Operational simplicity for large books of clients

The multi-asset structure removes the need to manage individual line items on platforms. This saves time and supports consistent outcomes across client groups.

Tracking and performance expectations

Laurentius explained that advisers should expect the multi-asset funds to behave in line with the equivalent Timeline tracker portfolios over longer time periods. The underlying exposures remain aligned, with similar regional weights, factor profiles and diversification.

Short-term variations can arise due to different daily pricing points or operational factors. These differences reduce over longer horizons and do not change the long-term characteristics of the funds.

A clear message for advisers

Laurentius closed the webinar by reaffirming that Timeline remains an adviser-first business. The multi-asset funds were built to sit alongside the existing model portfolio service and give advisers improved control where a single fund solution is more suitable.

For an overview of Timeline’s full product set, visit the Timeline website.