Lighthouse teams up with Octopus and Zurich to launch funds
Lighthouse Group has launched Luceo Asset Management, a wholly-owned subsidiary which will provide in-house investment products to the firm’s clients.
Its initial fund range, the Luceo Investment Funds, have been designed to be provided by Lighthouse advises and includes three active multi manager funds.
The funds will be managed by Octopus Investments and sit within each of the three most popular risk bands for Lighthouse clients.
They will initially be available through a new platform set up with Zurich called the Lighthouse Zurich Platform.
Malcolm Streatfield, chief executive of Lighthouse, said: “The introduction of the Luceo Investment Funds will provide appropriate, high-quality investment solutions to our clients, and we expect them to prove to be very attractive to the group’s customers and advisers.
“We look forward to extending the Luceo investment range further in the future.
“We are pleased to be working in conjunction with Octopus Investments and Zurich in launching these funds and look forward to delivering value to our customers, advisers and other stakeholders.”
The performance of the funds will be monitored and reviewed by the Luceo investment committee, made up of experienced investment professionals and an independent chairman.
Simon Rogerson, chief executive of Octopus Investments, said: “By establishing Luceo Asset Management, and delivering investment funds that are specifically designed for use by Lighthouse financial advisers, Lighthouse is deepening the relationship between financial advice and investment management, which will deliver better outcomes for its customers.
“Lighthouse was clear about what it wanted from the investments it recommends to its clients.
“Consistency, reliability, and complete focus on delivering the outcome the customer expects.
“At Octopus, we pride ourselves on managing investment products that do what we say they will, so we were delighted to be appointed as the investment manager of the Luceo Investment Funds.”
Earlier this year Lighthouse announced profits were up by 50 per cent for 2015, reaching £900,000.
Consolidator AFH made an aborted attempt to buy Lighthouse in March, which was rejected by the company's board.
