Boutique Somerset Capital Management launches on Ascentric
6 August 2010
Independent wrap Ascentric announces the launch of Somerset Capital Management on the platform.
The $600m Global Emerging Market Equity boutique offers 3 core strategies - Large Cap, Small Cap and Dividend Growth - and has established a significant foothold in the UK adviser and wealth management marketplace, since its launch in 2007. The firm, structured as a partnership to bind in talent for the long term, manages 40-stock, bottom up portfolios for a growing list of clients.
Oliver Crawley, Head of European Marketing, says “Our emphasis on transparency and producing a good value proposition has been well received in the UK market. The Somerset Capital team have a history of innovation with Emerging Markets, having been the first to launch a Global EM Equity Income Fund (yielding c4.2%). The Fund has a 1% AMC, with no initial charge or performance fee, which we believe represents exceptional value. We are really looking forward to building our relationship with Ascentric.”
Commenting on the launch, Richard Goodall, Sales and Marketing Director at Ascentric, said, “The launch of Somerset Capital Management on Ascentric has been driven by adviser demand for access to their funds. Their availability very much reinforces our open architecture approach and reflects the desire of our users to have access to the widest possible fund range.”
ENDS
For further information, please contact:
Ascentric
Dominic Ventham, Head of Marketing
Tel: 01225 787208, Mobile 07590 227039
Email: dominic.ventham@ascentric.co.uk
Issued by Concise Public Relations
Tel 0207 100 3960
Martin Wood
Mobile: 07946 527240, Email: martin@concisepr.com
Liam Jenkins
Mobile 07984 439968, Email: liam@concisepr.com
Notes to Editors
Ascentric and Fundsdirect are the trading names of Investment Funds Direct Limited.
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on their reputation as a leading UK fund supermarket to provide Independent Financial Advisers (IFAs) with a Wrap service under the brand name of Ascentric.
Ascentric is a whole of market Wrap service, available exclusively to IFAs and offers a fully integrated online investment management and dealing platform. It also enables IFAs to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place. This is obviously a considerable enhancement to the existing, time-consuming practice of IFAs introducing their clients to a number of different product providers.
In October 2007, a majority holding of Investment Funds Direct Group Limited was acquired by Royal London Group.
For further information about Ascentric and Fundsdirect, please visit either www.ascentric.co.uk or www.fundsdirect.co.uk
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
• Scottish Life – UK pensions market
• Bright Grey – UK protection market
• Scottish Provident – UK protection market
• Royal London 360° – offshore investment markets
• RLAM – fund management
• RLAS – life and pensions administration
• Fundsdirect / Ascentric – funds supermarket; Wrap platform
Royal London also distributes life and pensions products through Santander’s UK branch networks.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £39.1 billion. Group businesses serve around 3.4 million customers and employ 2,890 people. Figures quoted are as at 30 June 2010.