Strand Capital, a discretionary fund manager with a range of model portfolios, has begun insolvency proceedings, according to the Financial Conduct Authority (FCA).
The regulator said the firm formally entered the Special Administration Regime insolvency proceedings on 17 May 2017 after concluding the business was no longer solvent. Strand has approximately 3,000 customers and five model portfolios: Adventurous, Growth, Balanced, Defensive and Conservative. It also offered Lifestyling Options for clients approaching retirement. The firm manages around £80m on behalf of clients, according to The Telegraph. Which are the most popular DFMs with advisers? Reports filed with Companies House said Strand suffered pre-tax losses of £235,297 in the...
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