Waverton celebrates one year buyout anniversary with 30% increase in AUM

- 30% increase in AUM since August 2013

- Eight significant new hires

- Excellent performance from flagship European Fund

LONDON, 15th September, 2014: Waverton Investment Management (Waverton) has seen AUM increase by 30% from £4.0 billion in August 2013 to £5.2 billion (as at 31st August 2014) following its acquisition from Credit Suisse last year by Somers Limited and management.

Formerly known as J O Hambro Investment Management, Waverton has also attracted eight new hires, strengthening the core private client, charities and fund teams.  Furthermore, the board has appointed three new independent non-executive directors.

Hugh Grootenhuis, CEO of Waverton, said: “As we celebrate our one year anniversary as an independent owner-managed company once again, it is important to stress that our original investment philosophy and focus on client service remain unchanged.  In my view, our business is strengthened by the fact that Directors of the firm have an equity stake, further aligning themselves with the interests of their clients.”

“Clients continue to be attracted to Waverton because of the quality of our investment professionals and the focus on long-term performance, and this has been reflected in the increase of our AUM.  It is particularly pleasing that the growth in assets has been entirely organic and across all our business areas.”

There is a clear management structure and growth plan for each of Waverton’s five business units, comprising Private Clients, Managed Funds Service, Charities, Funds and Global Institutional.  Each department has performed consistently well and has been recognised by clients and commentators alike, with the Private Client team shortlisted by Citywealth for Asset Manager of the year 2014 and the Charity team shortlisted by the Charity Times for Boutique Investment Manager of 2014.  On the funds side, the Waverton European Fund in particular has had outstanding performance and is attracting substantial external assets.  The Fund has outperformed the FTSE World Europe by 67% over 3 years to 31st August 2014 and recently won the Lipper Fund Award 2014 for Equity Europe.  

Hugh Grootenhuis went on to say: “This anniversary marks the next chapter of our long-term growth plan for Waverton as a leading player in the investment management industry.  We can see many opportunities for us to grow further, whether in the field of international private clients, institutional investors, funds, charities or our managed funds service business.  Over the past year we’ve made significant investments across all these areas and we now look forward to seeing them flourish.”