International Asset Management, one of the oldest independent fund of hedge fund investment managers in Europe, has celebrated its 20th anniversary.
International Asset Management, one of the oldest independent fund of hedge fund investment managers in Europe, has celebrated its 20th anniversary.
IAM was founded by Albert Fuss, Tony Forward and Alan Djanogly in 1989 along with two of their colleagues from Drexel Burnham Lambert, all of which are still actively involved in IAM’s business.
Fuss remained chief executive of the business until Morten Spenner took over the helm in 2007.
IAM was privately owned until February 2006 when it was acquired 100 per cent by ABN Amro Asset Management (now Fortis Investments) where it operated as a separate entity with no external influence over the investment processes or business management.
In July last year it regained independence after undertaking a 100 per cent management buy out of the firm from Fortis with the support of long-term partners Sir Ronald Cohen and Jefferies Group.
Today IAM has USD2.6bn under management and 42 employees. Its client base, exclusively family offices when the company was formed, is now 80 per cent institutional and 20 per cent private investors.
IAM manages a range of offshore commingled funds, and its flagship fund is Alternative Investment Strategies which was the first closed-ended fund of hedge funds to launch on the London Stock Exchange in 1996.
Fuss says: "Despite the business going through significant corporate change over the past 20 years our core principles have stayed the same. These are: creating a strong solution to suit individual needs and add value to our clients though frequent communication, education and access to investment decision-makers. We will continue to remain true to our principles and keep investing in infrastructure and technology to best service our clients."
Spenner adds: "We are proud to be celebrating our 20th anniversary today. Going forward we believe the hedge funds industry will demonstrate its robustness. Clients want strong investment performance and a complement to their overall portfolios; we believe we can successfully deliver this."
