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Insynergy to close funds and target off-market investment

Insynergy Investment Management – the boutique fund manager launched with backing from ex-Dragons’ Den panellist James Caan – is proposing to close its funds as part of a “repositioning” of the business.

Investor approval will be sought to return money held in the absolute India, absolute China and New World equity income funds.

Investors in the Insynergy Odey fund, managed by star manager Crispin Odey, will be transferred into a similar plan with the same strategy, run by Odey.

Spike Hughes, founder and chief executive at Insynergy, 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 were not previously available to the UK retail, discretionary and stockbroker markets – and promote that expertise.”

Hargreaves Lansdown senior analyst Meera Patel says: “Other than the Odey fund, Insynergy has really struggled to raise assets. That is partly due to performance not being great but also the struggle has been made harder by markets not doing well.”

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