Hasley Investment Management is to revamp its £23m Elite Hasley multi-strategy fund and launch three risk-rated funds under the tenure of former Architas chief investment officer Richard Philbin.
Fundweb revealed last week that Richard Philbin joined Hasley Investment Management to become a partner in the business.
He will take on the managaement of the £23m Elite Hasley Multi-Strategy fund and the group is also launching three risk-rated fund of funds, which will sit across four volatility bands.
The funds will not be rated by a third-party risk profiler, which is the route taken by other asset managers, but the risk-rating will be based on their own process.
He says: “We believe we can build these models in a way that will fall into all the different models of the third-party risk providers. We are building an asset allocation system which is more suitable for all these models.”
Philbin also plans to revamp the Elite Hasley Multi-Strategy fund to make it lower risk.
He says: “The fund is not in the shape that I want it at the moment and so I have some changes to make. I want to lower the risk in the portfolio and bring it in line with how we want to risk-rate the portfolios.”
Philbin quit Architas in December 2010. Prior to Architas he was at F&C Asset Management, where he spearheaded the team’s multi-manager range.
Hasley has also appointed Alastair George to take on the management of the group’s £4.4m Best Ideas and £8.6m Diversifier funds. George previously worked at Goldman Sachs and is combining his duties at Hasley with his role as founder of Infinite Variance SA, an asset management and investment research firm based in Switzerland.
All three funds were previously run by Roderick Collins, who retired from the firm in June.
Hasley Investment Management was established in 2006 by the trio of Collins, Jeremy Nunn and Stewart Teague. All three of its funds – Multi Strategy, Dibersifier and Best Ideas – all are non-Ucits retail schemes.
Nunn says: “The trio of risk-rated funds is something Richard has been working on for some time and we feel they well be unique in the market.”