New fund firm Psigma Asset Management has reassured advisers that Bill Mott will be managing the planned UK equity income fund for the long haul.
IFAs have welcomed the return of Mott, a star of the equity income sector who called the TMT bubble correctly with handsome results for investors.
But advisers have expressed concern about how long Mott will stay as this is his second return from retirement.
But Ian Chimes, who will play a lead role in the new firm, says Mott will be free from sales and marketing distractions, which were the reasons for him retiring from full-time fund management in 2003 while at Credit Suisse.
Chimes also says the group has long-term plans to launch eight to 10 funds as they are keen to avoid the stereotype of a one-story boutique.
He says: “Culturally, this is the perfect position for Bill Mott. Not only does he have a stake in the business and the opportunity to focus on managing money but also most of the team here are a flashback to his days at Credit Suisse.”
The new firm, which is halfowned by the Punter Southall Group and half by the ex-Credit Suisse trio of Chimes, Mott and Graham Fuller, is set to launch the equity income vehicle in May, with an institutional business built on Fuller’s expertise in pensions.