VAM Funds (VAM) and Close Brothers Asset Management (CBAM) have teamed up to offer discretionary fund management (DFM) services to non-UK-based advisers and their clients.
Increasing uptake of discretionary fund management services comes as international advisers move away from self-selecting and managing investment portfolios on an ongoing basis for clients.
CBAM’s award-winning expertise is normally only available in the UK but will now be available in the international market exclusively through the VAM Discretionary Funds. This arrangement will see VAM bring three diversified multi-asset, risk-rated investment portfolios to international investors via a Luxembourg-domiciled UCITS IV fund structure. The funds’ investment strategies are managed by CBAM under a discretionary fund management agreement.
Each of the three VAM Discretionary Funds, VAM Close Brothers Cautious Fund, VAM Close Brothers Balanced Fund and VAM Close Brothers Growth Fund, is designed to suit a specific investor risk profile and investment preference. Each fund provides an all-in-one, best of breed portfolio for those seeking capital preservation, income or growth. The VAM Discretionary Funds are managed to the same strategy as CBAM’s Close Discretionary Funds Managed Funds of Funds proposition. In the UK market this proposition is rated highly by industry analysts, has a great performance track record and is managed by a top quality investment team.
Nigel Watson (pictured), sales director for VAM Funds, says: “As in the UK, financial intermediaries based internationally are increasingly realising that their skills are primarily in financial planning and relationship management, not in picking funds or building and managing clients’ investment portfolios. In fact, for advisers there are considerable risks in taking on these roles. This means there is growing demand for risk-rated, multi-asset, managed fund solutions that provide international advisers and their clients with effective access to a first class discretionary fund manager. With the VAM Discretionary Funds, each client benefits from the same investment process previously only available to those with significant sums to invest, actively managed by Close Brothers Asset Management in line with clients’ investment goals and appetite for risk.”
Brendan Adams, fund development director for VAM Funds, says: “VAM is delighted to be partnering with Close Brothers, a familiar name in international markets where it is recognised as a badge of quality. This exclusive partnership with Close is a perfect fit for VAM and our global investor base, and we are already seeing great interest from IFAs around the world in this unique DFM proposition.”
Penny Lovell, CBAM’s Head of Private Client Services, says: “CBAM is excited to have been appointed as the investment manager for the VAM Discretionary Funds. VAM is a leading fund management company within the international IFA community. CBAM has a strong reputation within the UK in multi-asset investment management and has established strong relationships within the UK IFA community. Whilst CBAM’s strategic focus remains within the UK, we are very pleased to have this opportunity to develop an exclusive and successful partnership with VAM, a company that has established such a strong presence within the IFA community globally.”
