We were pleased to see two of our partners win awards for their investment performance at the recent Citywire Awards. Tacit Investment Management took the title Best Small Firm, for the second year running, after delivering benchmark-beating returns with below average volatility across its four-strong range of investment strategies. P1 Investment Management won the award for Best Steady Growth Portfolio.
These awards show just how well boutique discretionary fund managers (DFMs) are doing against the mainstream, larger DFMs, while adding diversity.
In response to the win, Raj Basra, chief investment officer at Tacit said: ‘You have got to take a view’. Basra is critical of some of his peers, saying they ‘charge high fees and don’t actively manage’ client funds.
P1 chief investment officer Will Dickson, said he is sticking with the bullish view on equities that has helped its steady growth portfolio beat the competition. In January he took advantage of last year’s sell-off to up the P1 Growth Focus portfolio’s allocation to the asset class, and has since reaped the rewards. The portfolio maintains a bias to small and mid caps, and has upped exposure to the UK, as well as emerging markets.
Over the past 18 months, and particularly in response to PROD, we’ve seen a rise in the popularity of boutique DFM services as advice firms begin to recognise the very different solutions boutiques can bring to the table.
A while ago I captured Leigh Stephens, head of strategic relationships at Tacit, sharing his views on the rise of the boutique DFM – and what differentiates his firm from the bigger players.
Watch the video for more (it’s just 3:21 minutes)
(Please excuse the shaking in the video, it was filmed on my iPhone and Leigh kept knocking the table which meant my iPhone shook too!)
This article was created for the DISCUS website to announce recent awards won by Tacit Investment Management and P1 Investment Management. To find out more about Tacit please visit their dedicated page here and to learn more about P1 Investment Management, visit their page here.