View more on these topics

Quantum steps back from structured market

Structured product provider Quantum Asset Management has temporarily pulled out of the market and cut its sales team after struggling to structure investments in the current economic climate.

Chief executive Mark Mathias says the firm is not looking to issue any new products at present and does not see any attractive opportunities in the immediate future.

He says: “We are not seeing anything which is attractive to the market and we aren’t in the market. With rates and volatility where they are we can’t structure anything which we think is a great investment and which will sell.”

Quantum is a rebrand of Dawnay Day Quantum which split from Dawnay Day International last September following a management buy-out by Mathias from administrators.

After a number of redundancies in its salesforce, Mathias, portfolio manager Joel Amsellem and an office manager are now the only staff at the firm.

Existing active structured plans, of which there are an estimated 25-30, will continue to be administrated by plan manager Keydata until maturity. All plans are underwritten by Barclays and JP Morgan.

Truestone client director Simon Bullock says other small providers could face similar problems. He says: “In terms of structuring, I think they’ll struggle to come up with anything exciting.”

Recommended

Cautious bull

First up, I do apologise for focusing on corporate bonds for the second time in a month – not least because such questionable practice almost certainly contravenes some part of the Geneva Convention. However, it would appear I only gave you half the picture when we touched on the subject last month.

Slippery slope on Iceland

The Treasury select committee’s swipe at IFAs in its report into the failings of Icelandic banks only takes into account a small part of a complex subject.

Assets surge in gold and oil ETCs

Investors flocked to invest in gold and oil exchange-traded commodities (ETCs) during the first quarter, boosting ETF Securities’ assets under management by 44%. The firm reported record inflows in long oil and gold ETCs as investors sought a hedge against inflation and to gain from a rising oil price. ETF Securities said it saw inflows […]

Introducing Trevor Greetham

Ryan Medlock, Investment Proposition Manager, Royal London Royal London Asset Management’s (RLAM) new head of multi-asset is officially up and running. I want to look at what expertise Trevor brings to the table and how this affects the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). Trevor Greetham joined RLAM in April 2015 from […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com