More overseas advisers seek DFM services

More overseas advisers seek DFM services

A strategic partnership has been formed to meet demand for discretionary fund management services from overseas advisers and their clients.

Under an arrangement between VAM Funds and Close Brothers Asset Management, VAM Funds will bring three portfolios to international investors via a Luxembourg-domiciled Ucits IV fund structure.

The investment strategies for the VAM Close Brothers Cautious Fund, VAM Close Brothers Balanced Fund and VAM Close Brother Growth Fund - are managed by Close Brothers Asset Management under a discretionary fund management agreement.

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Nigel Watson, sales director for VAM Funds, said: “As in the UK, financial intermediaries based internationally are increasingly realising that their skills are primarily in financial planning and relationship management, not in picking funds or building and managing clients’ investment portfolios.

Industry view

Nick Blake, head of retail for Vanguard, said: “We are seeing adviser firms change from an investment-centric proposition to a planning-centric proposition, which means they are outsourcing the investment element more.”