Tideway Investment Partners, a London-based specialist global macro and fixed income investment analyst and fund manager, has launched a Jersey-based managed account service aimed at investors looking to investment £1m or more to protect their capital while earning above-inflation returns.
The service brings together investment accounts from Collins Stewart Wealth Management, providing custody and trading, with research and investment selection by Tideway’s team.
The Tideway Investment Partners Managed Account Service went live in November with £30m under investment, split between Collins Stewart Wealth Management’s London and Jersey offices. The minimum investment is £1m.
The target return is 6% to 8% per annum, after all costs, Tideway said, adding that the value of the average account is “just over £3m”, with investors split 50/50 between UK residents investing through their self-invested personal pensions SIPPs), and expatriates investing via Jersey.
It bases this target on what company executives say they believe is “reasonably achievable in fixed markets on a forward-looking basis”.
Tideway's managed accounts generated total returns of 15% on average in the eleven months to the end of November, the company said.
Tideway managing partner James Baxter said many of the investors in the Tideway Managed Account see it as a “safe way to protect capital and generate income”, while other parts of their capital base is exposed to “more speculative equity” investments.
Managed Account investors, Baxter added, get both “the financial security of having asset custody, trading and reporting performed by a...large balance sheet broker, combined with investment selection from a highly-focused boutique investment company”.
Tideway was founded in 2009 by Baxter, with partner Peter Doherty joining in 2010, and is best known to some investors for its Global Navigator absolute return fund, which has returned 20% to investors up to the end of November, since it was launched in September 2011.
Doherty, who manages that fund, said the case for investing in fixed income securities versus speculating on equity markets is compelling at the moment.
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IA fact box
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Name
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Tideway Investment Partners Managed Account Service
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Domicile
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Jersey/London
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Minimum investment
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£1m or currency equivalent
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Type of product
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Managed account service
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Size
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£30m at launch
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Annual charge
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1%
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Performance fee
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none
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Launch date
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November 2012
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