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Geffen forms new company with £30m of Orbitex assets

Orbitex chief investment officer Robin Geffen is setting up a new company after snapping up the UK investment contract of the Zurich-based fund manager.

Neptune Investment Man-agement will launch with assets of around £30m – inc-luding one pension fund and three Oeics – transferred from Orbitex and will initially target high-net-worth IFAs and the Sipp and SSAS markets.

Geffen, who has run the Orbitex funds since their inception, will become Neptune&#39s managing director and chief investment officer. He says he is keen to take advantage of investors&#39 increased appetite for specialist investment houses with active funds. A placing to raise an undisclosed amount of working capital for the new company from the City was three times oversubscribed.

Neptune&#39s investment pro-cess will be based on global sector analysis and will place equal emphasis on top-down, bottom-up analysis using macro-economics and research of individual securities.

Orbitex&#39s UK investment team will remain unchanged, with Oliver Russ as fund manager and David Gregory as chief operating officer. The firm intends to promote its funds through a number of IFA initiatives and leading firms.

Geffen says: “Our past performance shows we can deliver genuine active management. We intend to continue delivering this performance as we develop our business to our existing institutional and growing number of retail clients through IFAs.”

Hargreaves Lansdown head of research Mark Dampier says: “Orbitex had some great numbers on the funds but were fairly unknown. Geffen is a good manager and I do not see why Neptune cannot do very well if it can make a name for itself.”

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