Boutique wealth manager launches first retail fund

A boutique wealth manager offering a bespoke private client service is to launch its first retail fund as it seeks to diversify its business.

London-based Cerno Capital Partners will launch its Cerno Select fund on 4 September with £30m of seed money from existing clients, and a minimum investment of £5,000. The multi-asset fund will sit in the IMA Mixed Investment 40-85% Shares sector, and is expected to be made available to IFAs and wealth managers through a number of platforms including Cofunds. The firm, which has £350m of assets under administration, already manages a similar strategy, the EF Global fund. Lead manager and Cerno founding partner James Spence said the Select fund will aim to break through the £50m AUM...