UK - Bramdean, the new institutional multi-manager business launched by Nicola Horlick, its chief executive, has received approval from Dublin-based Irish Financial Services Regulatory Authority (IFSRA ) for its range of UCIT open-ended funds.
The company, launched in January this year, will initially offer five funds in its multi-manager range, covering UK and global equities as well as UK gilts, index-linked gilts and international bonds. It is appointing a small number of managers to each fund, with mandates to run high conviction portfolios.
Horlick said: “We have had an excellent initial response to the business and we are delighted that we can now go out and market our funds. We are extremely optimistic for the future.”
Bramdean will offer its high alpha range of funds as individual, specialist funds to large institutional clients, as well as marketing the whole range as a complete service to smaller funds. It will focus on the UK initially, but has registered the funds in Dublin to accommodate European business at a future stage.
Bramdean is also launching a small number of in-house, single strategy funds, which will be targeted more at high net worth individuals. Tariq Rahman, who joined from Prudential, will run two property funds, while Andrew Green and Rachel Durkin, formerly with SG Asset Management, will run UK equity portfolios.
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