Discretionary fund manager Bordier UK has won a £200mn investment management mandate from Cardiff-based advice firm Nugenis.
Nugenis is owned by Independent Wealth Planners, an advice market consolidator which allows the firms it owns to operate with a large degree of autonomy.
Bordier UK, which won the contract, is a division of the large Swiss firm, Bordier & Cie. The chief executive is Jamie MacLeod, who previously set up and ran Skandia.
As part of the contract, Bordier UK sits on the Nugenis Investment Committee, advising the firm on risk management, as well as strategic and tactical asset allocation.
MacLeod said his firm won the contract following a “rigorous” research process.
Gareth Tregidon, CEO at Nugenis said that Bordier UK’s experience and expertise had considerably enhanced its in-house investment capabilities “helping us to deliver excellent client outcomes as we grow our regional presence"
He added: "It is a strong foundation for the future, and we look forward to building our partnership with Bordier UK as we strive to deliver ongoing value to our clients over the long-term.”
FTAdviser understands this is the second investment mandate Bordier UK has won from an IWP-owned firm. The previous one was Richmond House, which awarded a £200mn mandate to Bordier UK in 2020.
Bordier UK’s parent company, Bordier & Cie, has total assets under management of £14.4bn.
The UK operation was until 2014 known as Berry Asset Management, and Jamie Berry remains executive chairman of the UK operation.
MacLeod told FTAdviser in 2022 that the UK operation is not for sale.
david.thorpe@ft.com
