Mattioli Woods eyes £15bn AUM as pension cash drives growth

Mattioli Woods eyes £15bn AUM as pension cash drives growth

Growing total client assets to £15bn in “the medium term” is the plan for AIM-listed investment company Mattioli Woods, according to its chief executive Ian Mattioli.

He spoke to FTAdviser after the company announced growth in total client assets of 5.2 per cent to £8.3bn for the six months to the end of November 2017.

The chief executive said the growth of the business has come from pension clients, both direct and through financial advisers.

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The company launched a range of multi-asset funds in November, which have assets under management of £900m, mostly invested by the company's discretionary clients.

Mr Mattioli said the company intends to grow assets under management to £15bn, with the structured products fund the company launched last year to account for “8-15 per cent” of total assets.

He said he views structured products as a product suitable for most clients.

Most of the increase to £15bn will come from organic growth, he said, with any acquisitions made by the company being “the icing on the cake.”

The company said its full year profits will be “in line with expectations.”

Simon Gibson, chief investment officer at Mattioli Woods said the multi asset funds “are very negative on bonds.

"We speak to clients up and down the country, and I don’t know anyone who likes bonds. We certainly are not going to have them in the portfolio just because we were taught that’s how you do it, when we learned this stuff 20 years ago,” he said.