Avebury Asset Management Group Limited and The Real Return Holdings Company Limited have formed a strategic alliance.
The alliance marks an important step in the growth of both companies and involves Avebury, the London-based global fixed income and currency specialist, and Veritas Asset Management, The Real Return's investment boutique.
Avebury gains an additional platform to develop its business in Europe, while Veritas Asset Management gains access to Avebury's global bond and currency expertise to complement its existing multi-asset capabilities. Furthermore The Real Return, an asset management holding company will become, subject to FSA approval, a minority shareholder in Avebury.
The Real Return's Stewart Newton, founder and former Chairman of Newton Investment Management, and Charles Richardson, previously Chief Investment Officer of Newton, will join Howard Flight MP as non-executive directors of Avebury Asset Management Group Limited.
Michael Daley, Avebury founder, said: "I am delighted to have found an excellent strategic partner in The Real Return. We gain unique strategic insight to help guide Avebury's future growth. Since our inception in 2000, we have quietly built a quality investment team and a competitive performance record and we look forward to moving ahead to the next stage of our development."
Charles Richardson, co-founder of The Real Return, said: "Michael and his team bring outstanding global fixed interest and currency expertise to Veritas Asset Management. This will enable us to drive our business forward and aligns closely with the strength of Veritas Asset Management's existing global multi-asset investment skills."