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Dalton in retail debut with India fund

Dalton Strategic Partnership is to offer an India fund next year as part of a new strategy to attract retail money.

The company, which was set up in 2002 by a number of former Mercury Asset Management fund managers led by Andrew Dalton, quadrup- led assets under management to 400m in the first eight months of this year.

Its five long-only funds are all in the top quartile since inception.

The firm – which is looking to recruit a head of retail sales – has so far accessed the retail market indirectly but is now changing its approach.

Its Melchior Japanese, European, North American, Greater China and precious metals funds will be complemented in early 2006 by the addition of an India fund.

The Melchior Japanese fund, which is run by Ken Nishi- zawa, is up by 62 per cent since inception in 2003 against a 15.7 per cent return from the Topix index.

Director Magnus Spence says: “Until now, Dalton has accessed UK retail invest- ors through multi-managers and very large private-client brokers but we have made no attempt to go after the money directly.

“Our performance should now attract IFAs and we are recruiting a head of retail sales. We also plan to launch an India fund next year.”

Capital Asset Management director Alan Smith says: “Performance will certainly help a boutique manager generate interest among IFAs but you have to be offering something extra special to turn the head of the smaller outfit without the money for detai- led research.”


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