Philbin launches multi-manager firm with ex-Skandia CIO Durrant

Richard Philbin, the former F&C and Architas multi-manager, has teamed up with the founder of Skandia’s Best Ideas range Alan Durrant to launch a new multi-manager business.

The duo have launched Harwood Multi-Manager, a new business which is part of boutique investment house Harwood Capital, with Philbin becoming CIO and Durrant CEO.

The pair said in the post-RDR world advisers needed solutions which were very clear to the end user, particularly around processes and charges, which they would offer to the market.

“We believe that there is a significant gap amongst the current multi-manager offerings for a suite of funds that defines the volatility risk budget and then sticks to it rather than meandering all over the market and taking a client’s pension or life savings with it,” they said.

Harwood Multi-Manager is planning a range of fund launches, but it also wants to work with financial advisers, life companies, and platforms who are looking for help in furthering their own multi-manager plans.

Both managers have vast experience of running multi-manager portfolios following extensive careers in the space, and they will use the existing compliance and dealing teams available at Harwood Capital to assist them as well as making a number of hires.

Harwood is the latest firm Philbin (pictured) has worked for following a spell with Hampshire-based Hasley Investment Management.

Philbin will continue to run a range of funds which were recently launched for him at Hasley as well as the Elite Hasley Multi Strategy Portfolio which he has managed since last August.

Prior to working for Hasley, Philbin was CIO at Architas Multi-Manager, and before that he worked for many years as head of multi-manager at F&C Investments, creating his renowned “traffic lights analysis” investment process.

Durrant is another well-known figure in the multi-manager space. The new CEO of Harwood Multi-Manager, until recently he worked abroad as group chief investment officer at The National Bank of Abu Dhabi (NBAD).

UK investors will know him better as CIO of Skandia Investment Management’s investment committee.

While at Skandia, Durrant conceived and launched the group’s Global Best Ideas and Asset Allocator ranges.

Durrant said: “I am enormously excited by this opportunity and this is why I took the step to return from the Middle East.

“Richard has developed proprietary quantitative screening models that are truly world class which will allow our fund managers and their clients to fully understand what risks are being taken in a portfolio.”

“We are hoping to go beyond partnerships and become woven into the fabric of the businesses that we engage with.”

 

This article was first published on Investment Week

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