Mattioli Woods is on the acquisition trail, but also plans to grow its funds business in the years ahead, according to Ian Mattioli, chief executive of the the company.
Speaking in the wake of the company announcing a 17 per cent increase in assets under management this morning (5 September), Mr Mattioli said the intention is to launch more funds, particularly in conjunction with the Amati Fund Management business it bought a minority stake in last year.
Amati runs a small companies fund, and venture capital trust (VCT) products.
Mr Mattioli said he regards VCTs as a “core” component of an investor’s portfolio rather than a niche offering.
He said the intention is to launch more funds that may be a core part of a portfolio in the future as a way to drive organic growth, alongside the acquisitions it has made, and intends to make in future.
During the past year, the company launched a structured products fund, which has now reached £100m of assets.
The asset and wealth management industries are awash with speculation about merger and acquisition activity.
We have set this business up to thrive for the next 25 years, not just the next five months.Ian MattioliMr Mattioli said his firm are “happy with our independence, or with being as independent as a listed company can be.
"We can acquire (other businesses) if the opportunity arises. Everything is possible. We have set this business up to thrive for the next 25 years, not just the next five months.”
Research released this morning indicated that only 6 per cent of asset managers feel ready for the regulatory changes of Mifid II.
Mr Mattioli said from his point of view, his company has long sought to put the client first and so the regulatory changes are unlikely to be particularly onerous in terms of the level of disruption they cause his company to implement.
david.thorpe@ft.com
