UK FCA authorises Arcanum AM for discretionary business
UK regulator the FCA has authorised Arcanum Asset Management to manage client money on a discretionary basis.
The authorisation means the manager can manage discretionary money to complement an existing portfolio of accounts under advice, said Paul Gleeson, principal.
“We know that there’s an appetite among HNWs and some institutional investors for a high performing segment of their investment portfolios and we aim to fulfill that need.”
Gleeson formed Arcanum Investment Management in 1997, with an eye to trading options in a way to make returns off market volatility. That business was sold off, but in July Gleeson obtained authorisation for Arcanum Asset Management, to make more widely available the strategy he had been running on behalf of friends and family.