Richmond Asset Management is launching five offshore, Bermuda-domiciled funds aimed at Asian high-net worth and institutional clients, in a bid to transform itself from an investment advisor to a full-fledged boutique fund management house.
The firm made its initial foray into managing its own funds two years ago with the introduction of Funds Optimization Service FOS, a momentum strategy using dynamic allocations among mutual funds around the world. For the decade prior to that, Richmond had been a financial planner and investment advisor, a role it continues. FOS racked up 110% returns gross of fees in those two years. It also found its currency management, operating along similar lines, was effective. That's...
