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The Isle of Man Assurance Group has significantly expanded its operations with the launch of IOMA Fund and Investment Management Limited (IOMAFIM).

IOMAFIM is uniquely placed in the Isle of Man investment industry in that it is licensed to provide both fund administration and investment management services.

The Managing Director of the new company is Philip Scales, a well-known figure in the Isle of Man funds industry with experience stretching back over 30 years.  Scales will assume day-to-day responsibility for fund administration services. 

Joining Scales on the executive board of IOMAFIM is Russell Collister whose experience in the investment management field goes back 20 years, latterly with Singer & Friedlander.  Collister will take responsibility for advisory services in particular discretionary portfolio management for private clients, trustees and professional intermediaries.

The Isle of Man Assurance Group provides a wide range of financial services products and services in the areas of life assurance, general insurance, fiduciary services, fund administration and investment management.

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