The funds and employees of Oriel Asset Management will be transferred to Crux Asset Management following the recent acquisition of the London based asset manager.
As a result of the transfer, the investment manager of CFIC Oriel Global fund, CFIC Oriel European fund and CFIC Oriel UK fund will change from Oriel to Crux, subject to the necessary regulatory approvals, which are anticipated at the end of January 2017.
The funds will be rebranded as CFIC Crux Global fund, CFIC Crux European fund and CFIC Crux UK fund.
Patrick Barton and Jamie Ward will continue to manage the CFIC Crux UK fund, while Richard Scrope will manage the CFIC Crux Global fund and the CFIC Crux European fund. The investment strategy of the funds will remain the same.
The funds are managed on a bottom-up basis and are unconstrained by benchmarks. They are characterised by a focus on long-term investment returns with an emphasis on risk management and capital preservation.
The Crux European Special Situations and Crux European funds will continue to be managed by Richard Pease and James Milne, supported by Roland Grender, and will see no changes to their process, philosophy or mandates.
“The transfer of Oriel’s funds and team to Crux represents an excellent cultural and corporate fit for both businesses. It was important to us to bring in a team whose long-term performance mirrors the sustained outperformance of the Crux European Special Situations and Crux European funds,” said Alistair Reid, CEO of Crux Asset Management.