View more on these topics

Iimia plans specialist boutiques in MitonOptimal merger move

iimia plans to ramp up its investment offering with the launch of specialist joint venture boutiques.

Chief executive Mike Phillips says iimia’s expected merger with MitonOptimal group will see the newly formed group initially look to recruit four or five specialist teams, with areas such as European equity and Asian fixed interest being targeted.

The specialists teams would operate on a joint venture model similar to Resolution’s model but Phillips says iimia will be majority shareholder in the businesses.

He says these satellite funds will complement its in-house multi-manager range.

Phillips says: “This merger would make us a serious multi-manager player with the capacity to compete with all the big boys in the market. But to have some specialist and single manager strategy funds around it would give the firm a complete offering for the market.

“We want to have an offering of the joint venture ilk while we will remain open-minded on where the specialist teams we recruit actually operate from.

“However, our first goal will be to get these businesses merged and operating in an efficient manner.”

Hargreaves Lansdown head of research Mark Damp-ier says: “These specialist offerings would depend on the managers they can poach but they must bed the business down first.”


Back to the future

Over 1,000 years ago, some people believed the Earth was flat, at the centre of the universe and all the stars and planets rotated around it.

A&L and B&B rebound after rumours

Alliance & Leicester and Bradford & Bingley are unlikely to be hit by similar problems to Northern Rock despite share prices slumping earlier this week.A&L’s share price fell by 31 per cent and B&B by 15 per cent on Monday but prices rebounded on Tuesday with A&L up by 26 per cent and B&B by […]

Aifa rues lack of FSA research but regulator says it’s listening

Aifa has accused the FSA of failing to conduct proper research before publishing its retail distribution review discussion paper.Speaking at Positive Solutions’ annual forum in Birmingham last week, director general Chris Cummings slammed the FSA for commissioning further market research on the issue.He said: “Speculation is fine but I wish they would have looked at […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm