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Sarasin poaches £70m mandate from Henderson and Schroders
by Danielle Levy on Sep 07, 2012 at 15:20
Sarasin has taken over management of the multi-manager Sequel Investments mandate run on behalf of advisers Foster Denovo and Allium Capital, after rivals Henderson and Schroders stepped back.
Joint venture Sequel Investments was launched in September 2009 and comprised a three-strong multi-manager fund range, which initially appointed Henderson Global Investors’ multi-manager Bill McQuaker as manager of the Adventurous portfolio.
The Balanced Portfolio was run by Andrew Yeadon of Schroders, with Sarasin’s Guy Monson running the Cautious portfolio.
However, Allium and Foster Denovo are understood to have opted to give the mandate – amounting to some £70 million - to Sarasin, with fund manager David Vickers now responsible for the management of the cautious, balanced and adventurous funds.
Allium Capital’s managing director Ronan Kearney said ‘We took the decision based on a number of factors. Sarasin had done the best job of managers around the two-year point. It seemed like the best idea for them to run all three funds.’
Sam Jeffries, partner and head of fund of funds at Sarasin & Partners, added: 'Sequel is an established part of Sarasin & Partners' growing fund of funds business. Having successfully managed the Cautious fund on behalf of Sequel from its launch in 2009, we were naturally delighted to be appointed to also manage the Sequel Balanced and Growth portfolios earlier this year.'
At the time of going to press Henderson confirmed it had stepped back from running the mandate, while Schroders declined to comment.Markets
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