Norway’s Skagen enters UK wholesale market
Norwegian manager Skagen Funds has entered the UK wholesale market via a deal with the Transact platform.
Transact’s clients, such as UK IFAs, can now access the Skagen Global, Kon-Tiki, Vekst and Tellus funds. These offer investors global equities, global emerging market equities, Norwegian and global equities, and global government bonds respectively.
Skagen already has a presence in the UK institutional market, with some £1bn under management on behalf of about 50 UK clients.
Tim Gordon, client relations at Skagen Funds , said: “Our entry into the UK wholesale market reflects the key strategic role of the advisory and wealth management channel as we continue to grow and diversify our UK client base. We will look to work closely with a small number of select distributors to build long-term, stable partnerships and provide the best level of service for their clients. Transact’s reputation as one of the UK’s leading advisory wrap platforms provides a very good fit and is an excellent way for us to launch our UK presence.”