Cluttons mulls fund launch as it expands fund management arm

Cluttons is considering launching its own fund for high net worth clients as it expands its fund management and investment arms in the wake of its restructure. The agency, which went into a pre-pack administration in May, has made two appointments to its fund management business. Matthew Peake has joined as a partner, while Simon Latham has been appointed as non-executive chairman. The aim, according to head of fund management Jamie McCombe, is to grow funds under management to over £1bn over the next three years, doubling the existing business. According to McCombe, this expansion includes the agency potentially setting up its own fund under its existing FCA regulated entity, and growing it to up to £500m. “We see there is good opportunity out there for a fund of this type,” he said. “We have a very active private wealth initiative here at the moment, and we see great potential to perhaps pool some of that private wealth money and provide something that’s pretty bespoke for those clients’ investment requirements.” Peake joins from M&G Real Estate, where he was a director of fund management on the £740m UK Property Fund. He has over 20 years of experience in the sector, and before joining M&G spent nine years as a fund manager at CBRE GI where he was responsible for two fully discretionary fund mandates. Latham was previously managing director at ING REIM where he was responsible for over £3.5bn of assets and headed the value add investment and unlisted pooled funds divisions. The team is currently mandated on £500m of assets under management through endowments, pension funds and charities. McCombe said, “We shall be seeking to build on our existing core fund management business by pitching for new mandates, whilst also exploring opportunities to grow and develop our team. “Matthew has an exceptional track record and is a great addition, whilst bringing in Simon adds a real depth of experience, given his 30 years in the financial markets.” Steve Morgan, senior partner at Cluttons, said, “Investment and fund management is a key part of our asset management division which is at the core of what we do. Bringing people of Simon and Matthew’s calibre into our already successful investment and fund management business is a clear signal of our intent”. To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette