Burdett and Potter reach £500m milestone

Thames River's multi-manager team has reached £500m of assets under management and is adding 20 new IFA firms a month to its client list.

About 800 IFA firms are now invested in the range of seven funds of funds launched in October 2007 under former Credit Suisse duo Rob Burdett and Gary Potter. Burdett says the forthcoming hike in CGT from 18% to 28% should also benefit funds of funds providers such as Thames River. "The higher rate will hit investors trying to switch between funds within discretionary portfolios. As multi-manager funds can switch between vehicles without having to pay CGT, we believe they will become even more attractive to private investors." He adds: "We are pleased to have reached this new level...