View more on these topics

Ex-Close AM trio launches new venture with two portfolios

Three former Close Asset Management senior executives have set up investment management business TIME Investments.

It will launch with two funds, the freehold income trust and the capital trading companies, with further products to be added later this year.

The property and tax planning investment manager business is owned by real estate investment specialist Alpha Real Capital.

Former Close Brothers managing director of the property division Nigel Ashfield is managing director of the new firm. He also manages the freehold income trust.

Former Close Brothers deputy managing director of the property team Steven Oliver and operations director Anthony Buckley are deputy managing director and operations director respectively.

Octopus Investments distribution director Russell Jarvis has been recruited as sales and marketing director and will head a sales team of six.

Ashfield says: “We have a strong management team and parent and two investment propositions with excellent and long-standing track records.

“Advisers are looking to diversify their clients’ portfolios, manage their risk-return characteristics and optimise their clients’ tax position. We are well positioned to meet their requirements with both funds.”

Yellowtail Financial Planning managing director Dennis Hall says: “Close is known for property-related funds and some have been successful.

“The freehold income trust is a niche product that has a pedigree behind it, albeit with Close where the managers have come from. However, it is a Ucis fund, so many advisers may choose to ignore it due to the negative connotations over Ucis.”

Recommended

Rob Reid: Assessing product liability

On more than one occasion, I have referred to my 10- minute bin test. This is where I read a product brochure in 10 minutes and if I cannot think of how to adequately explain it to a client, then I throw it in the bin. As I see the bills mount in respect of […]

Multi-manager View

Europe’s rejection of austerity does not bode well for markets There are more years of pain ahead as Europe continues to deleverage and doing so in the confines of a single currency is likely to be very difficult. There is some good news, as new French president Francois Hollande and ex-president Nicolas Sarkozy were not […]

Out of context

“When I am at home, I always have Kerrang! on in the background.” EGL financial technology consultant Eddie George gives an MM hack an insight into his taste in music. “It is important that the management drinks tea and knows the cricket score.” M&G recovery fund manager Tom Dobell on how he picks the right […]

UK housebuilders remain a value trap – despite post-Brexit falls

Despite the sharp drop in housebuilders following the Brexit result, valuations in the highly illiquid market are still at elevated levels. And whilst some investors may take comfort from superficially low price/earnings multiples, are earnings sustainable over the long term, asks Holly Cassell, Assistant Manager of the Neptune UK Mid Cap Fund. Click here to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

Leave a comment