London-based Merchant Capital, the asset management division of Merchant House Group Plc, has announced this week an ongoing advisory relationship with <
London-based Merchant Capital, the asset management division of Merchant House Group Plc, has announced this week an ongoing advisory relationship with Ignis Asset Management having assisted in the construction of its recently launched Lux-domiciled UCITS umbrella: Ignis Global Funds (SICAV). Merchant launched its own Dublin-domiciled UCITS umbrella structure in November 2009. As investment manager, Merchant appoints clients as advisers or “sub managers” of sub-funds using a cell structure. Having set up Merchant Funds Plc, the Merchant Capital team, headed up by Director of Asset Management, George Cadbury (pictured), was well positioned to advise Ignis’s management and legal team. The inaugural fund to be launched under the SICAV on 31st March 2011 was the Ignis Absolute Return Government Bond Fund, which invests in global government bonds and currencies to deliver absolute returns using low levels of risk. This particular fund is managed by the Ignis rates team, who manage over EUR35billion in global rates assets. As of 31st March 2011, Ignis had approximately GBP76billion in AUM. Speaking on the advisory role, Cadbury said that Merchant was very pleased to work with Ignis in developing their SICAV and felt a “huge sense of satisfaction” in seeing it successfully launch. “The relationship recognizes the importance of Merchant Capital as independent specialists within the UCITS sector,” said Cadbury.
