Guernsey-headquartered Freedom Asset Management, which launched at the end of 2015, is expanding beyond Europe following the amalgamation of the Somerset Capital Fund with its own Guernsey-based protected cell company (PCC), Opus Global Cautious Fund.
The move brings together Somerset Capital’s mainly Canada-based clients with Freedom’s European client base. The aim is to build out Freedom’s Canadian client hub and develop Canadian fund products for the European institutional market.
Under Canadian regulation, the amalgamation of Somerset's Maltese structure and the Guernsey fund was possible without triggering an event for the investors.
As part of the amalgamation, Freedom has appointed Laurie Winters, owner of Vancouver Financial Planning, to the investment committee of the Opus Global Cautious Fund, and David Birnie, Senior Vice President of Conair Group, to the board of Freedom Global Funds.
Freedom Chief Investment Officer Simon Fentham-Fletcher commented: “By building our client footprint, we have a natural opportunity to see the global economy in action – and to take advantage of that insight in the investment decisions we realise.”