Fidante manager set to close
One of Fidante Partners’ boutique fund managers is set to disband after more than eight years in the market, Money Management understands.
Five Oceans Asset Management, an international equities manager under Challenger’s boutique Fidante umbrella, has reportedly written to clients telling them it will close from July this year because it has not achieved its desired scale.
Its funds under management will be taken over by one of Fidante’s other boutiques, River and Mercantile Asset Management (R & M) from 16 July.
R & M is a traditionally “long only” London-based asset manager, which is quite a contrast to Five Oceans’ absolute returns philosophy.
Fidante is owned by Challenger and draws on around 14 investment managers.
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