A world where animal spirits are running wild is also one that has temporarily divorced from fundamentals. Experience tells us this often doesn’t end well.Â
The wealth transfer from Baby Boomers to their offspring, which is in full swing, has got the taxman’s full attention, especially as it pertains to capital gains payments, trust structures and potential breaches of the Tax Act’s Division 7A.
RBC wins quirky manager mandate
RBC Investor & Treasury Services has been appointed global custodian and fund administrator to quirky manager Gemini Investment Management.
Gemini, formed in London in 2009 by its three directors – Stuart Alexander, Alan Jupp and Alison Savage – acts as both third-party marketer for other managers and Dublin-based fund manager to institutions and high net worth individuals.
Gemini’s slogan is: “Institutional investment for everyone else.”
Under the custody and admin deal, RBC will assist Gemini in expanding its own distribution and admin services for investment managers looking for cost-effective market entry for new funds or who have existing funds that would benefit from increased distribution through its outsourced Irish-domiciled UCITS platform.
Gemini aims to increase assets under administration by helping more investors benefit from the performance of boutique-type funds that currently do not have the required size or track record available from most fund distribution platforms.
Alexander says on the Gemini website: “We are often asked ‘is that really a strawberry and an elephant in your logo hidden among the numbers?’ The simple answer is ‘yes’.”
“At Gemini we believe that it is not just a numbers game purely seeing 2 +2 =4. It is about understanding how the numbers got there in the first place. Whether we are looking at a fund’s alpha, sharp (sic) ratio, its volatility, or charges, when working with our investment partners we need to fully appreciate the history, process, business model and investment managers approach to name but a few. It’s also about sustainability and how a funds proposition can align itself in the markets of today. Positive performance of any investment is important – headline figures sell funds. At Gemini we strongly believe in looking at all the fundamentals that become the driving factors and influences of a fund capability.So, as you can see, it’s not just about the numbers.”
Â
