FundRock Partners has exceeded its targets for this year reaching over £10 billion of assets under management at the end of November.
The firm, which currently manages 60 funds for 17 asset managers and owners, saw assets under management increased by 60 percent year-on-year.
According to FundRock, 2019 was a key year for its UK business after it restructured the business in order to adapt to the increasing needs of clients as well as enhancing its technology and systems.
It also noted that the appointment of two new independent directors to its board and the addition of a strategic committee dedicated to the UK market helped to tackle the increased regulatory scrutiny.
In addition, Simon Gunson was also named managing director in Q4 to help drive the business forward.
FundRock said: “These appointments were vital to accelerating integration within FundRock Group, solidifying FundRock’s roots in the UK market, fortifying the business against any Brexit outcome and further strengthening its corporate governance model.”
It added: “Despite the loss of a key client and significant restructuring, year-end finds the UK business profitable as it experienced unprecedented growth with assets under management increasing by 60 percent year-on-year.”
“Continuous client trust is a testament to FundRock Partners growth trajectory. The business is well placed for growth with a further £4.4 billion of assets under management to be on-boarded in the first half of 2020. This will bring FundRock Partners’ assets under management above £15 billion.”
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