Newly-launched boutique Sanditon Asset Management, formed by ex-Cazenove managers Tim Russell and Chris Rice, is poised to launch an investment trust within the next four weeks.
The firm, which has received Financial Conduct Authority approval, aims to the Sanditon Investment trust in the second half of June.
It will be run by Tim Russell (pictured); the long/short pan-European vehicle will own 20% of Sanditon AM equity as an unlisted holding.
Sanditon also plans to launch two European open-ended funds – a long-short pan-European strategy and a long-only strategy, to be managed by Chris Rice. Two UK funds following similar strategies are planned for later this year.
Chief executive Rupert Tyer said both managers have a long track record tapping into business cycles: “The objective of Sanditon is to be a very focused investment boutique continuing to practice this business cycle approach and creating further products in the same style."
He said the team may expand to roughly ten over the next twelve months: “Over time we will broaden out the fund management team - we are not trying to keep it to these individuals.”
As well as Russell, Rice and Tyer, finance director Neil Cannetty-Clarke is a also founding member of the asset manager. Former Octopus implementations manager Wallace Lo will oversee the development of the firm’s infrastructure.
