Discretionary fund manager (DFM) Parmenion said it has witnessed a surge in new funds under management since the start of the year due to increased appetite among advisers to review their investment propositions.
Currently 1800 advisers use the DFM for their clients' investment needs, up from 1250 in September, and the business is looking to expand further. The Parmenion group has £700m in assets under management, and managing director Peter Dalgliesh expects to break through the £1bn mark by the end of the year, and for that to double again by the end of 2014. Parmenion Investment Management, the fund management arm of the group, has won more than £150m in new business since the start of the year, he said. It operates a risk-adjusted profiling style which puts risk, volatility and the consist...
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