View the article online at http://citywire.co.uk/wealth-manager/article/a688107
Credo targets UK intermediary market with MPS launch
by Elsa Buchanan on Jul 01, 2013 at 13:13
Credo Capital is launching a range of model portfolios into the wrap and platform market targeting financial advisers.
The new model portfolio service, which will be managed by former Pershing chief executive Charles van der Merwe, will initially comprise three multi-asset model portfolios.
These will hold a range of equities, fixed income and alternative assets, with charges ranging between 15 and 25 basis points.
Credo initially targeted the South African market, where it runs £500 million in assets on behalf of clients and financial institutions, but is looking to build its presence in the UK.
Van der Merwe told Wealth Manager: ‘It is a global, multi-asset class and multi-currency solution. Our expansion beyond the South African financial intermediary market became relevant when our South African client base showed interest in accessing the London market.’
Although only 35% of its total clientele is UK-based, Van de Merwe said 65% of the group’s assets are from the UK.
Credo will initially target IFAs, wealth managers and family offices with £100 million to £200 million in assets.
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