Wednesday, 27 August 2014
Last updated 5 hours ago
Mar 2 2011 | 8:09am ET
The London-based asset manager for the £20 million Montello Income Fund, a real estate bridge financing fund, has set up a distribution arm that will focus on promoting alternative investments.
Montello Private Financing has recruited Andrew Wood, with over 10 years’ experience in the financial services industry and significant fundraising experience in London and Zurich, to head Montello Distribution.
Christian Faes, Montello managing director, said: “As we are now seeing significant interest in our Montello Income Fund, we thought that it made perfect sense to establish a fund distribution arm to focus on the sales of this fund and to look at other possible opportunities in this space.”
In announcing the launch of its distribution arm, Montello cited a 2010 report from PwC and Caceis that suggested the fund distribution model in the UK is quite different from that in the rest of Europe, where the vast majority of fund sales are through retail and private banks. In the UK, where retail and private banks account for just over 2% of sales, the vast majority of fund sales are through IFAs.
The Montello Income Fund lends directly to end borrowers in the UK real estate bridging finance market, with a focus on London residential property. Launched in early 2010, and providing a return of 8.5% per annum, the fund had raised over £20 million as of September 2010.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...