Bill Mott is making a shock return to fund management in a move that will see him reunited with his former Credit Suisse colleague Ian Chimes.
The two are being joined by pensions specialist Graham Fuller as part of a new venture called PSigma Asset Management, which will be 50 per cent owned by the Punter Southall Group and 50 per cent by the three founding partners.
The teams initial offering will be an equity income vehicle, which will be available once regulatory approval has been given. This will be shortly followed by an institutional fund management service, aimed at using Graham Fullers’ track record on that side of the business.
Former managing director at Credit Suisse Asset Management Ian Chimes said: “‘This is a once-in-a-career opportunity to be reunited with many of our former colleagues and to create the ideal culture for fund managers to thrive. Fund managers will be free to manage money in the way that they believe will maximise returns for clients, subject of course to rigorous monitoring, control and compliance.”
‘Punter Southall Group’s entrepreneurial approach and existing infrastructure will leave us unencumbered by bureaucracy and able to focus on fund management and the provision of excellent service to our clients from day one. We aim to build the firm on a sustainable basis so that our growth is not to the detriment of good investment performance and we intend to attract further fund management talent when the opportunities arise.”
Mott adds: “One of the most enjoyable times of my career in investment management was when I was working as the day-to-day manager of the Credit Suisse income funds. At that time, I was working alongside a dynamic and driven team of Private Client fund managers and the interaction with them and the successes we had in delivering good investment performance
for clients was really rewarding. Many of these colleagues are now working together within PSigma Investments and when they approached me with this unique opportunity, I simply could not resist.”
Managing Director of PSigma Investment Management says: “‘This is a rare opportunity to attract three of the most capable and well-respected individuals in the fund management industry. We are delighted that they have agreed to help us with our ambitious plans to extend the scope of our existing investment activities and widen the range of services that we can provide to our clients.”
Hargreaves Lansdown head of research Mark Dampier said Motts’ return was almost like the third coming.
He said: “This is the third time Bill Mott comes out of retirement and again it is nothing but good news for advisers, particularly as his sole focus is running money. Add to that the skills of Ian Chimes and you have a very attractive proposition in the offing.”