Newly launched asset management firm Meteor Asset Management could look to link up with a boutique as it bids to gets four streams of business up and running in the next 12 months.
The firm, which is headed by Graham Devile and Phil Saunders, opened for business recently with growth and income-based structured products that are linked to the FTSE 100 and the Eurostoxx indices.
Both Devile and Saunders were previously senior executives at Nvesta, with the pair working on the product design side of the business.
Eventually, the business will look to operate with four strands to be as diverse as possible. This will start with retail structured products and will be followed by bespoke vehicles as well as open-ended offerings and offshore vehicles.
Devile says: “It has always been our aim to look towards running more niche offerings in the retail market. It made sense to start with two structured vehicles as that is our expertise while there is always demand for income and growth vehicles.”
Both products will be open for six-week periods, with new structured vehicles coming along as others close.
On the boutique link, Devile says: “We want all four strands to be running as soon as possible. There are a couple of boutiques that we have a relationship with and it could be an option to use them in order to access some of their specialist skills.
“We also hope that all launches will have an offshore version six or so weeks later as there is also an appetite for these vehicles in the offshore arena. Offering bespoke vehicles is a big part of what we are about as an organisation and we will be looking at a capital-secure product for pensions schemes that will help to offer protection against falls in annuity rates in due course.”