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City stockbroker Charles Stanley today boosted its fund management business by joining forces with boutique London investment house Matterley Asset Management.
Matterley founders Henry Dixon and George Godber will move across to Charles Stanley where they will help grow its fund management business ,while continuing to manage their own funds under the Matterley name.
Matterley chairman Ian Dighe, who is also making the move, said: “Charles Stanley has a long record of developing businesses and this is a unique opportunity for us to continue the expansion of our investment boutique.”
Matterley was set up last year and the deal gives it access to greater distribution through Charles Stanley's established businesses and nationwide network of offices.
Charles Stanley director Mike Lilwall said: “We look forward to supporting the growth of their boutique and expanding our existing funds business.
“We have been impressed with the calibre and performance of the team for some time, and are confident in their ability to develop this franchise.”
The £2.5 million Matterley S&W undervalued returns fund has fallen 6.4% in value since it was set up in August last year. This compares with a fall of 9.7% for the FTSE All-Share total return.
The fund is up 24.4% so far this year, compared with an industry rise of 13.7%.
Also joining Charles Stanley are Matterley chief financial officer Piers Harrison and analysts Henry Flockhart and Georgina Hamilton.
