Ravenscroft, the Channel Islands stockbroking and investment management company backed by Stephen Lansdown (pictured), has launched two funds into the UK market.
Lansdown, who co-founded FTSE 100 constituent Hargreaves Lansdown, has just become chairman of Ravenscroft, of which he owns nearly a third. Ravenscroft, which has operated in the Channel Islands since 2005, employs more than 80 people and has GBP2.87 billion of assets under administration.
The IFSL Ravenscroft Huntress Balanced Fund and The IFSL Ravenscroft Huntress Global Blue Chip Fund will mirror the offshore equivalents. In the Channel Islands, the Balanced Fund has delivered growth of 60.3 per cent over five years to June 2017, annualised at 12.1 per cent and the Global Blue Chip Fund has seen an increase of 40.6 per cent over three years to June 2017, annualised at 13.5 per cent.*
‘This is an exciting time to become chairman. The success of Ravenscroft in the Channel Islands is the ideal springboard for launching its top performing funds onshore. I am looking forward to working with teams in the UK and the Channel Islands, who are some of the best I have seen, as we take this next natural step forward,’ says Lansdown.
Ravenscroft, which is listed on The International Stock Exchange, has employed Mark Harries who brings three decades of wealth management experience to his role as head of investment management UK. He has worked at Scottish Widows Investment Partnership, Cazenove, Prudential Bache, ANZ Grindlays and Coutts & Co. More recently, he was the head of multi-manager at Aberdeen Asset Management, where he was responsible for the management and advice on more than GBP15 billion of assets.
‘What makes Ravenscroft different is its high conviction, global and thematic investment approach. Instead of forecasting political and economical events, we focus on very high quality stocks, and long-term irrefutable trends of changing demographics, increasing wealth and innovation,’ says Harries. ‘We don’t waste time on predicting events because predictions are so poor when you look at the numbers historically. The simplicity of the investment process is incredibly refreshing. It’s clear and intuitive and that will definitely appeal to investors.’
Harries says the success of Ravenscroft in the Channel Islands had been built on a strong company ethos.
‘What struck me about the Channel Islands-business was the accountability. The team see their clients in the street, in the supermarket and out socially. Clients of Ravenscroft are people they know and speak to regularly and while that personal approach might to some seem old-fashioned, it’s something that investors are asking for more and more,’ he says. ‘Since the crash of 2008, investors are now rightly asking where their money is and whether it is safe. The investment management industry has never been asked those types of questions before and the introduction of MiFID II will only increase that transparency and add pressure on advisers to be able to clearly explain the structure of funds and the reasons behind their decisions and advice.
‘That’s not a challenge for Ravenscroft as we only invest in things that can be easily understood. The team is extremely capable and are passionate about the funds. Having fund managers who invest alongside their clients is very reassuring.’
IFSL is acting as ACD and Vartan Ravenscroft, a subsidiary of Ravenscroft, is the sponsors of the funds which have officially launched following a two week initial offer period.