Gam, the Swiss fund manager, has begun marketing its wealth management services more actively to British financial advisers and may eventually launch fund versions of its model portfolios.
At a conference hosted by Cofunds last week, a Gam representative said the group was courting financial advisers who were looking to outsource wealth management to established groups.
British advisers could prove a profitable outlet for Gam’s fund of fund expertise as funds of hedge funds, a traditionally strong area for the group, have suffered as an industry in the wake of the financial crisis. (article continues below)
In Britain, retail investors have allocated much more actively to funds of funds than institutions over the past 10 years, IMA statistics reveal.
Despite three bear markets, funds of funds have never seen net retail sales dip below £500m in any calendar year, indicating the ongoing strength of the market.
They only went slightly lower than £1 billion during the financial crisis.
Gam has a number of onshore funds that have outperformed over the long term under veterans like Gordon Grender and Andrew Green.
It has also launched a platform of funds regulated under the European Union’s Ucits III directive, which is designed to sell strategies run by in-house and external managers.