Oakglen Wealth, the independently owned wealth manager with offices in Jersey and London, has been appointed by the board of the Libero International SICAV plc in conjunction with Blacktower Financial Management Group, to manage its Libero International SICAV PLC range of funds, the Nexus Global Solutions Portfolio and the Nexus Global Dynamic Portfolio.
The decision, which it said followed an extensive procurement process, sees Oakglen Wealth assume investment management of both portfolios from 1 June 2024, subject to regulatory approval.
The portfolios will be managed by Jeff Brummette, chief investment officer, and Nick Davis, investment director, as part of its "ongoing commitment "to elevate performance, drive sustainable growth and maximise returns for its investors".
A provider of independent wealth management advice for both individual and corporate clients, Blacktower said investors can expect more compact and geography-agnostic portfolios while still focusing on the main objectives for each.
The Nexus Global Solutions Portfolio is designed to protect wealth and provide capital growth over the medium term. The Nexus Global Dynamic Portfolio is an actively managed, globally diversified, equity portfolio with the aim of capital appreciation. There will be no change in investor fees.
Oakglen Wealth has also been appointed to relaunch the Nexus Global Cautious Portfolio. The aim is growth over the medium term, with a dual focus on capital protection as well as capital appreciation. This Portfolio relaunch has been created by the normalisation of interest rates and will provide greater flexibility on blending assets for a more tailored investment solution.
The addition of the Nexus Global Cautious Portfolio is scheduled to be made available to investors from 1 May 2024.
John Westwood (pictured), group chairman, Blacktower Financial Management Group said: “We are pleased to introduce Oakglen Wealth as the new portfolio manager for the Nexus Global Portfolios. This appointment is an important step for our Group as these Portfolios form a core part of Blacktower’s centralised investment proposition.
"Following a competitive review process of potential managers, the Board’s decision to appoint Oakglen Wealth was rooted in our commitment to delivering enhanced value and performance for our investors. Oakglen Wealth has consistently outperformed industry indices, demonstrating an ability to identify opportunities and manage risk effectively.
“I am also pleased that we are now in a position to relaunch the Nexus Global Cautious Portfolio with Oakglen Wealth. We look forward to the continued progression of these Portfolios to provide a first-class solution to our clients’ needs.”
Jamie Crawford, group head of wealth management said: “We are delighted to be appointed to manage the Libero International SICAV PLC range of funds and launch the Nexus Global Cautious Portfolio. Our wealth management philosophy is founded on the belief that client needs come first and that optimal outcomes are achieved by highly disciplined risk management that protects our clients’ wealth in difficult conditions while enabling them to participate meaningfully when asset prices are rising.
"This appointment is testament to the experience and expertise of Oakglen Wealth’s team, their understanding of the Nexus Global Portfolio requirements, and is a huge vote of confidence in our investment management capabilities.”
