This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+Cover+small+181214
Categories:Investments

Advisers say JO Hambro fund managers will stay

  • Print
  • Comment

MeeraPatel_newcutout.tif.jpg

Advisers are confident fund managers will stay at JO Hambro Capital Management after it is acquired by Australian fund manager BT Investment Management.
This week, BTIM announced it will acquire £7.1bn of assets under management in act-ively managed funds and segregated mandates.

The £209m deal will also include a 9.9 per cent interest in JOHCM’s private client business. The transaction is likely to occur in the fourth quarter.

Hargreaves Lansdown senior analyst Meera Patel says JOHCM managers will see their incentive structure improve following the deal.

She says: “The incentivisation structure for fund managers will improve due to an injection of cash from the deal but also ultimately there will be lock-ins for them through their equity stake so there is unlikely to be much movement.”

Chelsea Financial Services managing director Darius McDermott says: “We are very comfortable that there will be no effect whatsoever as a result of the deal.
“It is clearly a foray into the UK market for BTIM and we have had assurances that it will not interfere.”

JO Hambro chief executive Gavin Rochussen says: “We will look at selling to the Australian investors that BTIM sell to. As to whether we run any of the funds that BTIM hold, we would be open to it but it will depend on whether any of the mandates are compatible with the strategies we run in that area.”

He says the firm plans to take on a global value or glo-bal income team and will launch a product for that team. It also plans to set up an absolute return fund.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

AXA Wealth

Is there a growing need for financial advice


Fund Data

Editor's Pick



Poll

Will providers be forced to pay out compensation over annuity misselling?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments