Insynergy Investment Management – the boutique fund manager launched with backing from Dragons Den panelist James Caan – is proposing to close its funds as part of a “re-positioning” of the business.
Investor approval will be sought to return monies held in the Insynergy absolute India, Insynergy absolute China and Insynergy New World equity income funds.
Investors in the Insynergy Odey fund, managed by star manager Crispin Odey, will be transferred into a similar product with the same strategy run by Odey.
Spike Hughes, founder and chief executive at Insynergy, says the firm will re-position its strategy and launch a new business structure “to focus resources in the area where we believe we will enjoy most success and create most value – marketing and distributing exciting investment propositions”.
He says: “Our intention is to seek to identify proven ’off-market’ investment expertise – fund managers with proven investment credentials and strategies, whose funds have critical mass, but which were not previously available to the UK retail, discretionary and stockbroker markets – and promote that expertise.
“However, rather than committing our resource to the heavily commoditised and increasingly expensive area of fund manufacturing, we will instead work with our fund management partners to promote and distribute existing funds, launching new share classes where necessary.
“This proposed approach sees significant advantages for all of our stakeholders – clients and fund management partners in particular – not least the speed with which we can bring ideas to market. Our initial discussions with key partners have been warmly welcomed.”
Hughes adds: “Our whole focus is to bring new and exciting opportunities that were previously unavailable for UK investors and the proposed business re-positioning seeks to enhance that focus.
“I believe the need for such solutions that create and preserve wealth for investors remains as great today as ever it was and I passionately believe that the new economic environment requires new thinking and new fund approaches.
“We have identified many exciting investment opportunities, with some extraordinary managers, and we look forward to bringing some of these opportunities to market in the months ahead, in accordance with our strategy of offering innovative needs-based investment solutions.”