Bennelong Funds Management has announced it will launch a stand alone London-based funds management business to partner with specialist boutique funds in the UK.
The firm said it has “identified a number of exciting investment managers in the UK”, which Bennelong chief executive Craig Bingham said offer “some very interesting prospects”.
“Our approach will be to establish a stand-alone funds management business in the UK. While the overall strategy of partnering with specialist asset management businesses will be the same as it is in Australia, the asset classes and business strategy may vary,” Mr Bingham said.
“The UK and European markets have a number of inherent differences to Australia; what is successful here won’t necessarily be the best strategy in another part of the world.”
Mr Bingham said the company intends to appoint a number of UK-based executives, including a chief operating officer as well as compliance and sales executives, and establish two or three partnerships within the first half of 2017, adding that Bennelong had already spoken with more than 80 boutique funds.
“We hope our expansion into the market will help boost the ability of boutique fund managers to overcome the regulatory, legal and administrative hurdles that prevent many from getting a foot in the door,” Mr Bingham said.
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