viewTavistock Investments PLC

Tavistock Investments' protected funds stand up to coronavirus volatility


  • A UK fund manager and wealth advisor
  • Protected funds doing well
  • Undertaken strategic review 

Quick facts: Tavistock Investments PLC

Price: 1.35 GBX

Market: AIM
Market Cap: £8.21 m

What Tavistock Investments does:

Tavistock Investments is a UK asset management and financial advisory services business.

The company has 200 advisers that look after 50,000 clients and more than £3.5bn of investments.

The group provides compliance, administration and accounting services to independent financial advisers as well as wealth management, advice and financial planning to individuals.

Its fund management arm has 10 UCITS funds, including three protected model portfolios under the ACUMEN brand.


How it's doing

In July, Tavistock said its three protected unit trusts have proved themselves during the market volatility caused by the coronavirus pandemic with their "excellent" performance.

Trading results for the year to March will be in line with market expectations, said the fund manager, with the highlight the performance of the three ACUMEN protected funds.

Group funds under management rose 6% to £1bn as at end-March, while underlying profits jumped 24% over the year to £1.8mln, though the bottom line was hit by higher depreciation charges and a £5mln impairment charge on the value of some of its assets.

The protected funds are designed specifically to shield investors from sudden and sustained falls in market values and come with guaranteed protection up to 90% of each fund's highest ever asset value.

The two most mature funds fell by less than 5% and 3% between January and March, said Tavistock, a period when the FTSE 100 dropped 24%, while the newest fund fell less than 1% since its launch in December.

Tavistock said trading has been ahead of the board's expectations for the first quarter of the new financial year and told investors that it plans to expand its product range and launch its own platform service.


What the boss says: Brian Raven, chief executive

“We remain confident that the business will emerge from the current crisis in good shape," said CEO Brian Raven in July.

“We are also looking to significantly expand the range of investment products we make available to clients, principally by adding to our model portfolios. We are looking to launch model portfolios investing in index-tracking instruments, active fund managers, ESG fund holdings and make those available to clients in the most efficient way.”

“Our business is about helping advisers do the best job for their clients. And for our business to grow, the fastest way is to actually recruit advisers rather than making acquisitions. 

“For advisers to join, they have to regard Tavistock as a better home than wherever they are at the moment. Our view is that somewhat immodestly we believe that we can do a better job than almost all of those with the right platform partner.”


Inflexion points:

  • Strong first-quarter of 2021/22 financial year
  • Protected products continue to attract strong inflows
  • Consolidation opportunities
  • Plans to expand fund range
  • Plans to launch investment platform with partner 



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