Oldfield to open trio of funds to retail investors

Oldfield to open trio of funds to retail investors

Boutique manager Oldfield Partners is to make three of its funds available to the retail market for the first time in a bid to expand its investor base.

The Overstone Japanese Equity, European Equity and Smaller Companies offerings, originally launched as qualifying investor funds targeting sophisticated and institutional investors, will be merged into Ucits vehicles, effective from September 13.

The fund house said that while qualifying investor vehicles had originally been “appropriate” for the portfolios and potential investors, Ucits had since become “the de facto standard for pooled fund structures in the UK, Europe and beyond”.

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Jamie Carter, chief executive at the firm, said of the Ucits shift: “The Ucits structure will give a wider investor base access to these strategies, enabling Oldfield Partners to reduce the funds’ total expense ratio as the assets grow in each strategy.”

The firm, which has been active since 2005 and is led by former Mercury Asset Management chief investment officer Richard Oldfield, manages $4bn (£3bn) for clients that include high-net-worth individuals, family offices and pension funds.

Beyond Japan, Europe and smaller companies, it also focuses on areas such as global equity income.

It suffered a blow earlier this summer, however, when St James’s Place said it would shift a £200m global mandate to US firm Paradice. Oldfield had taken sole responsibility for the High Octane mandate since 2009.