Three former Close Asset Management senior executives have set up investment management business TIME Investments.
TIME 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 TIME Investments. 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 hired as sales and marketing director and will head up a six-strong sales team.
Ashfield says: “We have a very strong management team and parent and have two investment propositions with excellent and long-standing track records.
“In these difficult times, advisers are increasingly looking to diversify their clients’ portfolios, manage their risk return characteristics and optimise their clients’ tax position, so we are well positioned to meet their requirements with both funds.”