Burchett joins after almost 30 years as head of dealing for Investec, specialising in smaller companies. For 20 of these years, he worked closely with Paul Mumford, manager of the £151m TM Cavendish Opportunities fund, as his specialist stock broker.
He will now work directly alongside Mumford, focusing on investment timing and improving the trade execution process.
Burchett’s two decades with Mumford has provided him with prior knowledge of the TM Cavendish AIM and TM Opportunities portfolios.
Mumford said that Burchett’s “advice on timing and execution over the years has been critical to the long-term success of my funds”.
He added: “Having been in the fund management game for 30 years, and having been a stock broker for 25 years before that, I have a keen eye for the difference between good and bad recommendations.
“Having Nick in-house will give us better access to market makers, to liquidity, and to the companies we invest in. My business relationship with Nick extends over 20 years. During this period I have been continually impressed by his knowledge and understanding on the companies I hold. He is an ideal partner.”
Meanwhile, Burchett commented: “I have developed an excellent relationship with Paul over the years as a senior specialist stock broker, and a lot of this is down to us seeing eye to eye on the fundamentals of investment, such as the importance of a bold contra-cyclical approach and getting to know the companies you invest in inside-out.
“The complementary combination of Paul’s stock picking skills and my insight into timing and the trading side has brought a lot of success to the AIM and Opportunities funds over the years, and I’m excited to now make this my full-time focus.”
The firm also said Burchett’s longer-term focus will involve bringing an extra dimension of process to the trade execution by bringing costs down, streamlining third party commissions, and preparing for Mifid II.
Julian Lewis, chief executive officer of Cavendish, commented: “As well as the UK-focused AIM and Opportunities funds, Nick’s expertise will also be of real benefit to the recently-enlarged TM Cavendish International Fund, which has a number of UK holdings, and similarly the Cavendish UK Balanced Income Fund.”
