VAM Funds, a Luxembourg-domiciled fund manager, has partnered with UK-based Close Brothers Asset Management (CBAM) to meet international advisers’ rising demand for discretionary fund management services.
Under the deal, CBAM’s three products, which are generally available only in the UK, will become available globally through VAM Discretionary Funds.
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"Financial intermediaries based internationally are increasingly realising their skills are primarily in financial planning and relationship management, not in picking funds or building and managing clients’ investment portfolios," International Adviser quoted VAM Funds sales director Nigel Watson as saying.
The agreement marks a come back to the offshore world for FTSE 250-listed Close Brothers.
CBAM will continue to manage the diversified, multi-asset, risk-rated investment portfolios under a discretionary fund management agreement via a Luxembourg-domiciled UCITS IV fund structure.
The portfolios- the VAM Close Brothers Cautious Fund, the VAM Close Brothers Balanced Fund and the VAM Close Brothers Growth Fund – will be managed using the same strategy as CBAM’s Close Discretionary Funds Managed Funds of Funds proposition.
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