MULTI-manager firm T.Bailey has won the mandate to run the IFA-owned IF Alliance Liberation VII fund from Close Private Asset Management.
The £13m fund was launched as part of a series of five funds in 2005 by a group of IFAs who were seeking to have more bargaining power when negotiating terms with fund management firms. The portfolios are run on a fund of funds basis, each with an outsourced manager appointed. The deal is the first of its kind for T.Bailey, which until now has managed only its own three internal funds. Jason Britton, fund manager for T.Bailey, said: “The invitation to manage a specialist intermediary fund, after a wide-ranging tendering process, is ultimate recognition of T.Bailey’s abilities.” ...
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