View more on these topics

Structure struggle sees no solace for Quantum

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 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 market and we are not in the market. With rates and volatility where they are, we cannot 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 company.

There are an estimated 25-30 existing active structured plans which 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 will struggle to come up with anything exciting.”


£7.6M write-off for Lighthouse Group

Lighthouse Group has had to write down £7.6m, with £5.6m directly related to its £12.6m merger with Sumus in May last year.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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