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Britannic in fund deal with Neptune duo

Britannic Asset Management is creating a specialist European fund boutique with Barry Norris and Oliver Russ of Neptune Investment Management.

The venture, being set up in London, aims to provide high alpha returns.

Britannic will set up a Europe alpha fund and a pan-European vehicle will follow.

The fund will be seeded initially with 20m by Britannic Group and will be available to the retail and institutional markets.

It will be launched as soon as Norris and Russ have fulfilled their commitments to Neptune.

Norris and Russ currently manage the Neptune European opportunities fund, which ranks first in its sector over a year with a return of 28.1 per cent.

Chelsea Financial Services press officer Ben Larter says: “This will be a blow to Neptune because Ross and Norris have tur-ned in exceptional performance for them over the last year.

“For Britannic, whose reputation for fund management has not been exceptional, this could provide a welcome boost.”

Britannic sales and marketing director Jonathan Polin says: “This development brings us a specialist high alpha product in a key asset class.

“We are determined to be at the forefront of our industry in terms of performance, innovation and appeal to a wide-ranging investor base.”


Julian Gibbs

I always look forward to Principal Investment Management’s annual study of UK equity income funds, which is now appearing for the 29th year.

Duffy on mortgages

This week’s commentary features a 75m deal and the transfer of Alan Mudd back to Charcol from Savills. These items are unrelated and were certainly not part of any clandestine shenanigans in a west London hotel but both are harbingers of what could be an intriguing year for the mortgage industry.


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