Evenlode Investment Management is set to forge its own path after it separates from partner firms Wise Funds and Wise Investment in July.
All three companies sit under parent company Oak Investment Partnership, but from 1 July the firm will demerge into three separate employee-owned companies. Each will continue to operate from the existing offices in West Oxfordshire.
The Oak Investment Partnership was established in 2016 by Tony Yarrow after a shake-up of Wise Investment, which he founded in 1992.
Separate 2020 results for all three firms, published on Companies House on Monday, said a demerger “will allow for greater simplicity and long-term alignment for the subsidiary companies and their underling operating structures and business models”.
They added: “As a result of the realignment, Wise Investment Ltd, Wise Fund Limited and Evenlode Investment Management Limited will operate as three distinct, independent and employee-owned companies.”
Demerger makes sense for individual partners
Evenlode chief executive Hugh Yarrow (pictured) said: “The Oak Partnership has successfully evolved to a point where a demerger makes better sense for each individual partner and their next chapter of growth.
“For Evenlode, our long-term investment approach remains the same, but with a simpler operating structure and a clearer alignment between our long-term goals and Evenlode as a distinct operating company.”
Evenlode’s turnover for 2020 was £28.6m up from £24m in 2019 while operating profit was £7.9m up from £7.7m the year before. AUM at the fund group increased to £4.8bn at the end of 2020, up from £4.2bn the year before.
‘Logical step’ given companies’ growth ambitions
Wise Funds CEO Vincent Ropers described the move as a “logical step” given the companies’ respective growth ambitions.
He added: “We will keep a shared history and maintain close ties, but the restructuring will allow us to grow at our own pace and pursue opportunities independently.
“Wise Funds will be autonomously managed following the demerger. This will create a clearer, more streamlined platform for the next stage of our growth.”
Wise Investment CEO Alexandra Rae said: “We will also continue to be an independent, employee-owned business. This structure has become an integral part of our DNA and business culture. We retain a strong shared history with both Evenlode and Wise Funds, and will, no doubt, continue to be supportive of each other going forward.”
