Saturday, 27 August 2016
Last updated 18 hours ago
Mar 3 2014 | 1:00pm ET
Winton Capital Managament is planning a major expansion that will see the firm launch five new funds, open three new offices and hire as many as 100 new employees.
The push comes as firm founder David Harding takes on the mantel of CEO from Tony Fenner-Leitão, who resigned from Winton last week. Harding told The Wall Street Journal that Fenner-Leitão, who joined the firm in 2008 and became CEO a year ago, was moving to the U.S. West Coast "for family reasons."
In his wake, Winton is planning a raft of new funds, including five this year and more in 2015. Four of 2014's new offerings will be long-only funds, two targeted at European investors and two mutual funds targeted at those in the U.S. The fifth new fund's strategy is still being determined.
Winton will also open new offices in New York, Sydney and Tokyo, to be staffed by sales professionals and researchers. The firm already has offices in Hong Kong and Zürich in addition to its U.K. bases in London and Oxford. Last month, Winton moved into new offices in the British capital; it is currently using only one-third of the 70,000 square feet there.
Some of those square feet in London and abroad will be filled by the new hires Harding plans. Up to 100 will be added this year, with further recruiting expected next year.
"To grow, you need to have several things in place: office space, management know-how, money and the will," Harding told the Journal. "We now have all those things in place."
Winton has more than US$25 million in assets, US$10 billion of it in its flagship Futures Fund. Harding said the firm earned £154 million last year.