Tony Byrne, managing director of Milton Keynes-based IFA Wealth & Tax Management, is hoping to launch his own fund by the end of 2017.
Byrne (pictured) has received authorisation from the Financial Conduct Authority (FCA) for the Intelligent Wealth fund. The fund will be an Oeic that will invest in exchange-traded funds (ETFs), direct equities and investment trusts. It will target ‘high-growth’ companies that aim to disrupt the market.
‘We think we are on to a winner,’ he said. ‘We think the big companies such as Google are funds in themselves because, for example, Google has 200 subsidiaries so you are piggybacking on that,’ Byrne said. The fund will invest in eight themes: biotechnology, the internet of things, robotics, 3D printing, renewable energy, banking (including challenger banks), media and transport.
‘Those are the eight themes where we think all the growth is going to come from in the next five to 10 years,’ Byrne said. ‘This is inevitable and we are already seeing this from some of the big players such as Tesla and Amazon. It’s a bit like when we went from canals to railways and a lot companies went under; soon the whole FTSE 100 will be unrecognisable and virtually all the companies will be replaced.’
Byrne is confident the fund will launch by the end of this year or the start of next and is only waiting to get an authorised corporate director (ACD) to work with. He said this was proving slow going because ACDs are more cautious following the FCA’s asset management study.