Investments 

Sanlam takes over trio of multi-asset funds

Sanlam takes over trio of multi-asset funds

Wealth management firm Sanlam has taken over the management of a trio of multi-asset funds as part of its strategy of moving away from a fund of funds approach.

The funds will be managed Sanlam’s internal research capabilities and will invest directly in underlying assets.

Sanlam will take over the management of the VAM Cautious, Balanced, and Growth funds, which have combined assets of £134m.

In a statement announcing the agreement, Sanlam said the deal was part of its strategy of moving away from a fund of funds model and towards segregated fund mandates, as it believes the latter is more effective for clients

Investors that are not Sanlam clients will continue to be able to invest in the VAM funds.

Penny Lovell, chief executive of Sanlam’s UK Private Office business, said: "Investors and regulators alike are increasingly focused on cost and transparency. We’ve seen a growing international DFM demand from HNW clients and the partnership with VAM coupled with our strong investment pedigree and expertise will help to ensure that demand is fulfilled.

"VAM is a leading fund management company with strong investment credentials and an established presence in the international community.

"Like us, VAM place great emphasis on putting clients first and we look forward to developing a successful partnership over the coming years."

david.thorpe@ft.com