Premier chief executive Mike O’Shea says the company will be aiming at the specialist sector after gaining approval for its management buyout last week.
O’Shea believes that for Premier – and the market in general – the specialist market is still in its infancy with a number of untapped opportunities to take advantage of.
He says: “We have the likes of Alex Ross and Rupert Morrell who both run property and European growth portfolios respectively. We will be on the lookout for managers in order to extend that, if possible. What the MBO means is that we have the equity structure and environment to appeal to more managers of the highest quality.”
Bolstering the specialist sector is only one part of the firm’s initial plans, with O’Shea also pointing to third-party distribution and the private client sector as two other areas where the firm will look to build its presence. He says: “If we can work on all these things, it will bring Premier to the next level in terms of what we bring to advisers which is top fund managers backed up by high-quality service.”
Chelsea Financial Services managing director Darius McDermott says: “If they can get the right fund at the right time then any specialist fund can be a very welcome addition given the unknown potential on the upside.”