Coronation Fund Managers is looking to target high net worth individuals (HNWIs) in Europe and Asia ...
Coronation Fund Managers is looking to target high net worth individuals (HNWIs) in Europe and Asia with the launch of a single strategy fund of hedge funds and a series of structured products.
This new focus on the high-end retail market follows the appointment of the new CEO, Charles Barnick, whose previous role included marketing hedge funds to Swiss and German HNWIs.
Barnick will now target the rest of Europe with the two new products. Coronation expects around 30%-40% of sales in Europe will be to HNWIs.
In Asia, Coronation already has a presence in Japan, but is looking to expand into Singapore and Hong Kong. Coronation expects the main focus for Asia will be in structured products.
Ramona Glass, head of product and wealth management at Coronation, said: "Previously we only had a multi-manager strategy and sector focus for Europe, now we are planning to launch a single strategy which will consist of a long/short, relative value event driven, and tactical trading.
"Clients are sophisticated and are not happy with funds that invest in all multi-strategy funds. They are increasingly demanding single sector fund of funds."
• Coronation will launch a single-strategy fund of hedge funds and a range of structured products.
• The company expects 30%-40% of European sales to be to HNMIs.
Clients to be compensated by end of 2018
Rolled out to 25 schemes next month
Mean gender pay gap now 16.64%
26 years in financial services
Some 150 claims still to process