JO Hambro Capital Management has appointed Andrew Smelt from Gartmore as head of sales and marketing...
JO Hambro Capital Management has appointed Andrew Smelt from Gartmore as head of sales and marketing as it continues its expansion into the retail market.
Smelt was senior City manager responsible for the largest discretionary and intermediary accounts in London and the South East.
Last week, Investment Week reported that JO Hambro was in the process of obtaining authorisation for an Oeic with four sub-funds, covering Europe, UK Growth, UK Emerging Companies and UK Recovery, all for launch in the middle of October.
These funds will have an annual management fee of 1.25% and a trail fee for which the level has yet to be finalised. There will also be an annual performance fee of 15% of any outperformance above 1% of the fund's benchmark.
Nichola Pease, chief executive, said the funds will be eligible for an Isa although JO Hambro did not have its own Isa wrapper.
The group's initial goal for the portfolios is £100m-£150m. Pease said the group has been looking at examples set by ABN Amro, Artemis and Liontrust.
The funds will be focused, each looking at a different sector and typically holding around 60 stocks. All will be based offshore in Dublin and will be FSA recognised.
60+ £300bn ISA savings
Total funds on list rise from 26 to 58
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