VFS and TAM sign $200m deal for discretionary fund management service

VFS and TAM sign $200m deal for discretionary fund management service

VFS International has formed a strategic partnership with TAM Asset Management International, an award-winning specialist in discretionary fund management (DFM), that claims to set a new benchmark for the international IFA industry.

Announced by VFS at their annual conference in Mauritius last week, the new partnership seeks to provide a DFM service that will be among the first offered by an offshore IFA operating to UK standards. The new deal, which combines global expertise in all aspects of portfolio management and construction, is expected to improve fund performance and transparency, create greater choice and drive down costs.

With over $300m in assets under advice and last year’s International Investment Award for Best Best-Practice in Africa under its belt, VFS already has a proven record of designing model portfolios to suit a range of risk and currency profiles that deliver extremely good returns. These highly successful portfolios, put together by the VFS Investment Advisory Committee (IAC), are expected to see further significant improvements in performance as a result of this development.

TAM, which traces its roots back to the 1930s and the London Stock Exchange, brings significant experience in effective portfolio management to the table and access to a 24-hour online platform that is the envy of the industry.

VFS investment director, Reena Hurkoo, said: “This partnership enables us to build on the success of the IAC by giving clients access to a far greater selection of funds and making our service more cost efficient and transparent. TAM’s online delivery and dealing system is one of the most superior in the market and will provide clients with round the clock access to their portfolios.”

Phillip Hadley, managing director at TAM said: “We are delighted to be in partnership with a company that is so client focused. VFS has seen an opportunity to improve their portfolio management and we are delighted to help them by joining their Investment Advisory Committee and by delivering our online proposition and execution of trades.”

VFS said the development enables the company to further recruitment of advisers in new regions where high levels of transparency and rigorous regulatory adherence are standard.

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.