DSP managers run funds not business

When Andrew Dalton and Magnus Spence set up DSP, they managed to create a boutique culture that has led to a growth of £3bn in assets

Andrew Dalton and Magnus Spence left Merrill Lynch back in 2002 to get away from the rigidity of a large institution. The expansion of their start-up firm Dalton Strategic Partnership (DSP) since then has made it an international firm in its own right, now managing $3bn in assets. Focus The difference, according to chief operating officer Spence, is that in investment terms, they still retain the boutique culture where managers' performances are aligned to their own interests and stockpicking flexibility is allowed. DSP's culture is to keep the managers running money rather than being ...