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Boutique fund launchesneed IFA support

SVM head of retail sales Mark Noble believes it is crucial for new boutique fund launches to get endorsement from adviser firms and multi-managers if they are to get through their initial phase of asset gathering.

Noble said at the roundtable debate that while bigger companies may be able to seed funds, boutique firms really needed early investment from the likes of multi-managers and positive reaction from IFAs in the media.

“Take our global opportunities fund that we launched last year. The likes of Hargreaves Lansdown did the research and gave us seed capital to invest in the early phase without that we could have really struggled,” said Noble.

Wilson Dean Financial Services director Nick Lincoln said that because of the large number of funds in the market, many IFAs would tend to stick with the big names.

Lincoln said: “IFAs know Bill Mott and his name alone sees him take money in hand over fist. The same would apply for Neil Woodford if he moved to a new firm.

“The fact is that if two funds are the same in terms of charges and remit, I will choose the easier route, that being the big brand, as it is one less hill to climb.”

Cofunds head of fund manager relations Russell Lancaster said: “The hope is that with 28,000 registered individuals you have to differentiate your offering and investing in boutiques can give you that option.”

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