Brompton’s multi-asset class team – lead by chief investment officer Gill Lakin – will now manage the funds within the £148m global fund range. These include the WAY Global Red Portfolio, the WAY Global Blue Portfolio and the WAY Global Cautious Portfolio.
Despite the new ownership and new managing team, the funds’ key structures and investment objectives will not be changed. The funds will continue to be used as the core investments underpinning the WAY Group’s inheritance tax mitigation solutions.
“The fund range was originally developed to complement WAY’s trust solutions using a fund-of-funds structure to preserve the trustees’ capital gains tax allowance, running a nil-yield mandate to avoid inconvenient distributions to trust beneficiaries,” said Paul Wilcox, chairman of the WAY Group.
"Best of Both Worlds"
Wilcox is confident that the new arrangement will provide the “best of both worlds” to IHT clients, in what has been agreed to be a long-term collaboration. While the WAY Group will focus its attention on the complexities of trust management and develop its service proposition to clients, Brompton will bring independent investment management into the mix.
Gill Lakin, who will head the new collaboration, was chief investment officer of Thornhill Investment Management having previously held senior fund management positions at Société Générale Asset Management and Prudential Portfolio Managers, where she ran retail funds.
“As manager of the three funds, we aim to produce healthy risk-adjusted returns for investors while maintaining the nil-yield mandate and to satisfy the requirements of their advisers for efficient service,” Lakin said.
