LONDON (HedgeWorld.com)–As part of a plan to offer its high-net-worth clients access to a wide range of money managers, C. Hoare & Co., the United Kingdom’s last privately owned bank, will include a fund of funds managed out of Russell Investment Group’s London office in its new multi-manager product.
Also among the funds to which bank clients will have access will be multi-manager equity and fixed-income products from Northern Trust Global Investments and SEI Investments.
Alexander Hoare, chief executive of C. Hoare & Co., said his bank’s goal is to offer its clients, who range from long-established landholders to dot-com millionaires to celebrities, the widest possible array of managers from which to choose.
C. Hoare & Co. does not offer its own investment products and never has, Mr. Hoare said. Instead the company distributes investment products managed by other firms. The partnerships with Northern Trust Global Investments, SEI Investments and Russell Investment Group represent a fresh way of thinking about the services the bank provides, Mr. Hoare said.
The bank would like to become a manager of multi-managers, Mr. Hoare said.