Former IA chief Daniel Godfrey to launch investment trust

Godfrey Daniel Investment Association 2015

Former Investment Association head Daniel Godfrey is to launch a new investment trust, Fund Strategy can reveal.

“I am exploring the possibility of how an investment trust could be used as a structure to provide a truly mutual investment fund,” Godfrey tells Fund Strategy.

Godfrey says he wants to develop a new structure of investment trust where the investors are placed at the centre, and the trust is not governed by shareholders.

“The idea of an investment fund that doesn’t have any shareholder sitting above could enable you to do some quite interesting things with it, particularly as a very long-term investment theme.”

However, details on the products and launch date are not yet available.

Godfrey is doing some consulting work since his departure from the Investment Association last September. He is currently advising savings and investment app Moneybox on regulation, and is working on a few initiatives of which “a new fund would be one”.

He says: “I am working on new initiatives to set up an operating businesses in the asset management space. I don’t want to set up an asset management firm but I want to help investors with services to be successful with investment managers.”

Prior to being chief executive of the Investment Association Godfrey was director-general of the Association of Investment Companies.