Wealth management firm Sanlam UK has signed a strategic partnership with VAM Global Management which will see its Cautious, Balanced, and Growth funds come under new management.
The announcement follows news from the Ucits Luxembourg fund management group, VAM Funds in February that it was moving its Discretionary Fund Management (DFM) business from Close Brothers Asset Management.
The new strategic partnership will see the three VAM products managed by Sanlam UK’s direct discretionary funds team.
VAM’s discretionary funds will also pivot from a fund of funds model to a directly invested approach, due to a volatile market dynamic and a spike in investor appetite which should offer some saving in fees charges to clients.
Penny Lovell, chief executive of Sanlam UK’s Private Office: “Investors and regulators alike are increasingly focused on cost and transparency.
“We’ve seen a growing international DFM demand from high net worth 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.”
Details of funds
The funds, which have combined assets of $175m (£135m, €156m), were launched in 2011 as a response to rising demand for direct discretionary fund management services from VAM’s international clients.
Each of the three VAM discretionary funds is designed to suit a specific investor preference and risk profile.
The funds provide investors with a diversified multi-asset portfolio for those seeking growth, income or capital preservation.
Brendan Adams, managing director of VAM Global Management, said: “Financial intermediaries based internationally are increasingly noticing they need to form partnerships with established fund managers to further help them deliver investment excellence.
“Investors in our discretionary funds will benefit from Sanlam’s significant expertise, industry-leading performance and reduced overall fees.
“This partnership with Sanlam UK is an ideal fit for our international investors, their investment goals, and their regulatory demands.”
