Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Rice & Russell receive FCA approval for new funds

Rice & Russell receive FCA approval for new funds

The Financial Conduct Authority (FCA) has approved four new funds from Sanditon, the firm created by former Cazenove managers Tim Russell and Chris Rice.

The four strategies – long only and long/short UK equity funds for Russell (pictured), and long only and long/short European equity funds for Rice – are now expected to launch formally later this year.

Operated by Thesis Unit Trust Management, the pair of absolute return funds are called Sanditon European Select and Sanditon UK Select, while the long-only products have been named the Sanditon European fund and Sanditon UK fund.

As Wealth Manager revealed last year, the duo have adopted the Lindsell Train model, establishing an investment trust that provides investors with a stake in their new boutique.

This trust hit its target of raising £50 million when it floated earlier in the year.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter