Bates aiming for £100m in multi-manager assets

National IFA firm Bates Investment Services is to take on a multi-manager strategy by the end of the year. The group, headed by chairman Graham Bates, believes it will be able to accumulate £100m in multi-manager assets within two years. The intermediary firm, which employs 50 advisers, has been in talks with a number of possible providers, including SEI, Frank Russell, Axa and Insinger de Beaufort. It foresees some 50% of future business going into core manager of manager funds in the life, pensions and investment business on which it advises. This decision has been prompted, in part...