Iveagh Private Investment House (Iveagh), the Guinness family office and asset management firm, has launched the Iveagh Wealth Fund in Sweden following demand from Swedish retail and institutional investors and the financial adviser community.
The Iveagh Wealth Fund, launched in London in September 2008, currently holds more than GBP242 million (around SEK 2.52 billion) of assets under management.
The Iveagh Wealth Fund is now authorised by Finansinspektionen, FI, the Swedish Financial Supervisory Authority, giving investors confidence in Iveagh’s commitment to Sweden’s investors and offering the Fund greater distribution mobility via direct retail and institutional sales and the fund platforms.
In keeping with the culture of one of the oldest private family offices, and in contrast to a traditional fund management business, the Fund’s prime objective is wealth preservation, aimed at families seeking to protect their assets and transfer wealth from one generation to the next.
The Iveagh Wealth Fund replicates the asset allocation service provided for the family office clients, which include the Guinness family, targeting annualised returns of 10% over an investment cycle.
Iveagh’s sophisticated portfolio optimisation and asset allocation techniques are used to achieve this objective with constrained risk. Due largely to these techniques, and the experience of the investment management team, the Fund currently holds a Standard & Poor’s AA fund rating, awarded in January 2010, well before the usual three year qualification period.
The Iveagh Wealth Fund is a global, multi-asset UCITS III fund for retail investors and is managed by John Ricciardi and Christopher Wyllie.
For the Scandinavian/Nordic countries, Iveagh has partnered with Global Wealth Management Solutions (GWMS) and Erick Lindmark, Director, Fondtorg1 Europe. GWMS has a business history since 2003 and Fondtorg1 Europe since 2007. Mr Lindmark has worked for large financial institutions including Skandia, AIG and Royal Life and Lutetia.
