Tideway Investment Partners is hiring advisers to help it break into the income drawdown market, as well as launching several new funds, its managing director has said.
James Baxter said the London-based boutique was looking at the income drawdown space, and was expecting to roll out a number of new equity and bond investment products over the coming months.
He said the firm’s specialist income drawdown service would concentrate on higher net-worth investors, and it comes in response to client demand for such a service combined with a wide and flexible fund range.
Mr Baxter said: “We have listened to our clients and there is a clear demand for a flexible income drawdown service underpinned by Ucits funds with higher yields, low volatility and with a strong eye to capital preservation.
“It’s a natural advice niche and customer type for us to focus on the back of our successful existing fund and given our building track record in the target return sector.”
As a result, Tideway is looking for advisers with strong experience of the income drawdown sector to join the firm.
The boutique fund manager already has £30m in assets under investment, split between Collins Stewart’s London and Jersey offices.
An existing Tideway Ucits, the Global Navigator fund, has returned 26.55 per cent since its inception in 2009. Managed by Peter Doherty, it has total expense ratio of 2.87.
Adviser view
Gavin Haynes, managing director of Bristol-based Whitechurch Securities, said: “It seems as if Tideway is going to do its distribution through tied advisers, which is understandable, given the competition within the marketplace.
“You do need an established track record and specialists in place, especially if you are a niche or boutique provider.
“It is a challenging market but the area on which Tideway is focusing – income – is certainly an area that is attracting much adviser and client interest.”
