Guernsey-based discretionary fund management company MitonOptimal International has agreed the acquisition of Orchard Wealth Management in Jersey, after gaining regulatory approval from the Jersey Financial Services Commission.
Orchard Wealth Management is led by fund manager Richard Harwood, who will join the MitonOptimal Group board of directors. Richard manages the Orchard Fund, a sub-fund of Orchard Funds, a Dublin-listed UCITS.
He commented: “With increased regulation and distribution cost for small fund management businesses, MitonOptimal was a logical choice to partner for the future. My aim is to focus on continuing to deliver top quartile performance on our Orchard Fund and building on our Jersey relationships.”
MitonOptimal is a specialist global multi-asset management company with a presence in Guernsey, South Africa, UK, Singapore, Isle of Man and now Jersey.
Founded in 2002, it offers multi-asset funds, discretionary fund management and portfolio management services to a range of private clients, intermediaries and institutional investors around the world.