True Potential, a UK-based financial services firm, is planning to foray into the fund management market by launching a range of 15 new funds in the first quarter of 2015.
The new 15 OEICs will primarily invest in equities and extend across True Potential’s five risk profiles, among which most of them will be located in the mid-range cautious and balanced category, reported Investment Week.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The funds, which will be available on the group’s platform as well as its direct to consumer proposition, TP Investor, will be initially managed by its strategic partners who include 7IM, SEI, and Close Brothers.
True Potential’s senior partner Daniel Harrison said that the firm plans to build model portfolios in the future.
The firm expects the funds to attract at least between £50m and £100m in assets each.
The move comes after the firm’s platform unit, TP Investments, receives approval from the regulator to control client money in the summer.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHarrison added the firm has the authorization to manage the money directly as it sits with the custodian.
"We are going to create our own funds and run our own money. It’s about having more control over the value chain. When the clients invest their money they are paying TP whereas right now they are paying a fund manager for the fund," he added.
