Former Montanaro head of business development Tom Norman-Butler has launched his own firm, Beechtree Capital.
Norman-Butler spent 15 years at Montanaro Asset Management before exiting in September.
Beechtree Capital is an outsourced distribution business focused on the UK and Ireland.
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In a LinkedIn post, he said: “I believe the outsourced model makes more sense now than ever before. With fees for active management continuing to fall, new entrants to this market must keep costs under control and raise assets in order to survive.
“Outsourcing ensures up-front costs are kept low and there is a better alignment of interests as well. For more established firms looking to raise assets in our home market for the first time, the outsourced model provides increased flexibility and specialist local knowledge.”
He added that his firm will aim to build long term partnerships with a “select few” active managers, and will typically look for specialists with a differentiated and proven investment approach.
