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Hedgie robo targets institutional and private client cash

Hedgie robo targets institutional  and private client cash

Another robo-adviser has opened its doors to clients but it is differentiating itself by mainly targeting wealth and asset management firms. 

Tiller, set up by the pair behind hedge fund firm Ermitage Asset Management, will provide white labelled and integrated services to instutitions. 

While still offering a private client service, the company said its B2B arm would make up 75% of its business. 

The private client business has three portfolios: core mandates made up of only ETFs, smart portfolios invested invest in both active funds and ETFs, and 'select' portfolios allowing investors to select thematic, regional or sector-based strategies. 

The minimum investment for private clients is £10,000. The core portfolio has an annual fee of 0.75% while the smart and select portfolios charge 0.9%. 

The typical underlying cost for ETFs will be 0.25%, the company said, and the active funds will have an average underlying charge of 0.54%. There are no other additional charges.

Chief executive Ian Cadby has over 30 years' investment experience with a specialism in derivative trading and hedging strategies.

Prior to founding Tiller, he was the CEO of Ermitage Asset Management, which developed investment systems and software designed to run portfolios for some of the world’s top institutional savings schemes.

Jonathan Wauton, the business’ chief investment officer, worked alongside Cadby at Ermitage from 2001 to 2013. During this time he held multiple roles, as head of hedge fund seeding, head of risk, head of research and for the last five years as chief investment officer with overall responsibility for the group’s multi-manager hedge fund performance.

‘We are professional investors who saw an opportunity to embrace technology rather than technologists who saw an opportunity in the world of wealth management,’ said Cadby.

Wauton added: ‘How wealth managers perform in turbulent markets is a true mark of their skill. In our previous company, we were recognised both for our achievements in investment management as well as proprietary technology.

‘Irrespective of whether it is our ETF-only portfolios or blended, we never leave your money to the fate of the markets. We combine intelligent technology and proactive management. This approach gives discerning investors peace of mind about risk and performance, at an affordable fee.’

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