J O Hambro Capital Management (JOHCM) is expanding its private client business with the launch of a subsidiary aimed at high net worth individuals.
James Hambro & Partners LLP will take on the work of JOHCM's existing private client assets which total more than £200m.
With current group assets under management of £3.9bn, JOHCM says it aims to grow the private client business so it accounts for a "significant percentage" of total assets managed by the group.
Chief executive officer Gavin Rochussen says the launch of the subsidiary is in response to a changing investment universe which is seeing private clients and wealth management services become increasingly important.
"Our core business will remain focused on OEICs, other open-ended funds and specific institutional mandates, but James Hambro & Partners will add another string to our bow, providing a tailored service for high net worth individuals," he says
He says the expansion of the private client business brings the benefits of a long-term client base and diversification of assets and revenue streams.
To help with the expansion, Anthony Balniel and William van Straubenzee - previously with J O Hambro Investment Management (JOHIM) - join as founding partners of the private client business. Balniel will manage portfolios and van Straubenzee will have responsibility for the investment process.
The company says it will provide clients with broad access to asset classes through experienced portfolio managers.
Chief executive of the expanded private client business Andrew Steel says: "We believe that a combination of excellent investment returns backed by first class service is an attractive proposition to those investors who may be disappointed with the service they are currently receiving from other providers."
James Hambro & Partners' launch is conditional upon FSA approval.
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From June 2019