Farlake Group is to launch several fund of funds products later this year as part of its move to dev...
Farlake Group is to launch several fund of funds products later this year as part of its move to develop itself as a retail asset management house, writes Kira Nickerson.
Following its recent acquisition of Bristol-based stockbroking company, Rowan & Co, the Aim-quoted group will be rebranded under the holding plc of Rowan & Co. Farlake has some £500m under management with some £350m of this in unit trusts and other funds with UK investment houses.
The group is looking to launch between three to five funds under a Luxembourg Sicav operated by German fund management company Value Management and Research AG (VMR), which owns a 26% stake in the group. The funds will include a UK equity blue chip offering growth, a specialist smaller companies vehicle that may invest in investment trusts as well and a European fund.
Sean Ewing, managing director of the Farlake Group, said: "The fund of funds will invest in a number of preferred funds such as Morgan Grenfell Blue Chip, Gartmore European and Newton Income."
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