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Rich list: how 14 fund and wealth bosses fared

We run through the top wealth and fund names to feature in this year's Sunday Times rich list.

The annual Sunday Times  rich list is back and as ever featured some very familiar faces.

However, this time one man made history. Ineos founder Jim Ratcliffe is the first British-born industrialist to top the rich list, with a worth of £21 billion. 

Beneath Ratcliffe there were a number of familiar faces from the world of wealth and funds, in what proved to be generally a prosperous year. 

 

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The annual Sunday Times  rich list is back and as ever featured some very familiar faces.

However, this time one man made history. Ineos founder Jim Ratcliffe is the first British-born industrialist to top the rich list, with a worth of £21 billion. 

Beneath Ratcliffe there were a number of familiar faces from the world of wealth and funds, in what proved to be generally a prosperous year. 

 

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912: Andrew Staley, Marlborough Investment Management

Readers will recognise Andrew Stayley as the former majority shareholder in platform company Parmenion, which was owned by Marlborough Investment Management.

Stayley still owns and runs Marlborough, whose 2016 profits rose to £10.6 million on nearly £67.7 million turnover. 

Parmenion changed hands two years ago when it was sold to Aberdeen Asset Management.

This year, Staley has climbed from 962 to 912 on the rich list, with a current worth of £125 million, up £15 million from last year,

 

 

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678: Andy Bell, AJ Bell

Platform boss Andy Bell, the chief executive of Manchester-based AJ Bell, has kept his position on the Sunday Times Rich list as he prepares his business for a float.

Bell has ranked 678 on the paper’s annual survey, the same as 2017. His worth has been listed at £165 million, the same as the previous two years.

Bell launched AJ Bell in 1995 as an actuarial consultancy and only later focused on pensions.

Now a successful platform, in February AJ Bell announced plans to float with a retail share offer available exclusively to AJ Bell customers.

AJ Bell has appointed Numis Securities to explore a float, expected to take place towards the end of 2018 or early 2019.

 

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675: Charles Montanaro

A highly regarded City fund manager who specialises in smaller companies, Kent-born Montanaro has not moved from his position at 675 since last year. 

He remains valued at £175 million. 

Montanaro, 62, and his family own all of City-based Montanaro Asset Management, which made £7.5m profit on £19.5m sales in 2016 and showed £46.5m net assets. With £2.4bn funds under its wing, the Sunday Times claims the company 'should be worth £150m and we add £25m for other interests.'

In 1980 he joined Merrill Lynch as a private client broker, rising through the ranks into senior positions at a host of other banks before allegedly becoming one of the highest paid brokers in the 1980s.

After a year in private equity, he founded Montanaro Asset Management in 1991, specialising in European smaller companies.

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480: Terry Smith, Fundsmith

Terry Smith has jumped up the Sunday Times Rich list for a second year.

According to the annual survey Citywire AAA-rated Smith saw his wealth rise £30 million to £250 million in total.

This saw him climb from number 513 in the 1,000 strong ranking, to 480th.

The rise pales in comparison, though, to last years’ performance, which saw him jump 283 places. That was if the back of a £127 million increase in his wealth.

Smith, who formerly led Tullett Prebon, launched Fundsmith to much fanfare back in 2010, vowing to shake up the industry by delivering quality performance at a low cost. 

His Fundsmith Equity fund has returned 130.6% over the past five years.  

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358: Christopher Mills, Harwood Capital Investment

Harwood Capital managing partner Christopher Mills is valued at at least £352 million in the rich list.

The grandson of circus boss Bertram Mills, Christopher Mills made £61 million from the 2011 sale of the JO Hambro Capital business.

Harwood Capital made profits of £28.4 million in 2016-17. He is also chief executive of investment trust North Atlantic Smaller Companies Investment Trust, where his stake has risen by more than £20 million over the past year. 

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301: Jonathan Ruffer

Ruffer is a barrister-turned fund manager who founded Ruffer Management with Robert Shirley, the 14th Earl Ferrers, in 1994. 

Ruffer, now 66, owns just over half of the £775 million business, which boosted its funds under management to £19 billion in 2016-17 when it made £135.6 million profit on £184.4 million turnover. Its divident was £10.6 million. 

Ruffer is valued at £425 million, £19 million more than last year, at which point Ruffer was 298 on the list. 

Last month he predicted that volatility in world stock markets will result in them being 'hit by an earthquake within months.'

Last summer, he was dubbed '50 cent' for buying £200 million worth of cheap insurance to protect his portfolio. 

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24: Bruno Schroder, Schroders

Bruno Schroder appears in the rich list again this year, climbing two places from 26 to 24 with a worth of £5.23 billion. 

Schroder's family banking business has reinvented itself as a City fund manager holding £418 billion in client assets. 

The family's stake is worth £4.8 billion up £889 million in a year. Schroder, who went to Eton, now owns the 18,500-acre Dunlossit estate in the Hebrides, where they breed pigs.

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76: Stephen Lansdown

Stephen Lansdown founded discount broker Hargreaves Lansdown with Peter Hargreaves 37 years ago in 1981.

Like his colleague, Lansdown has since stepped back from the top table, but his stake in his former baby Hargreaves Lansdown is worth more than £1.11bn.

Lansdown recently became chairman of Ravenscroft, a Channel Islands-based investment manager with £3bn of assets under management. He has also invested in sustainable technology investor in sustainable technology, with £15m in a portfolio that includes projects in Africa.

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42: Peter Hargreaves

Peter Hargreaves, co-founder of discount broker Hargreaves Lansdown, has shot up the Rich List, adding £849 million to his fortune.

Hargreaves no longer sits on the board of the Bristol-based broking giant he founded, but still has a 32.2% stake. The value of that stake rose £809 million to just over £2.9 billion over the past 12 months. Added to that have been share sales and dividends.

He now sits at number 42 on the 1,000-strong list of the UK’s wealthiest people, up from 51 last year, with a fortune of £3.2 billion. For more read here

 

 

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149: Charles Cayzer and family 

The Cayzer family saw its fortune jump by £20 million to £949 million over the year. 

The Cayzer's family's forbear, Sir Charles Cayzer, founded the shipping business Clan Line Steamers, the world’s largest cargo carrying line, in 1878.

The Cayzer's portfolio includes its long-standing 48.5% stake in private equity trust Caledonia Investments, which acquired a majority interest in wealth firm Seven Investment Management in June 2015.   

 

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179: Lord Rothschild

The chair of £3 billion investment trust RIT Capital Partners is now sitting on a £755 million fortune after a £20 million rise in his wealth last year.  

Rothschild is a benefactor of Waddesdon Manor in Buckinghamshire, which he one described as his 'manor from heaven'. He also has £115 million worth of investments in art and wine, alongside a £26.3 million stake in oil firm Genel Energy.  

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180: Crispin Odey and Nichola Pease 

It has not been a prosperous year for the couple, with their fortune tumbling £25 million to £750 million. 

A slump in performance in Odey's flagship European fund was the major factor behind the fall in their joint wealth. The fund lost 50% of its value in 2016 and an additional 15% in the first eight months of last year. This has resulted in assets under management at Odey Asset Management almost halving from $11.7 billion at the start of 2015 to $6 billion at the end of August last year.    

However, things are looking a bit rosier this year, with Odey registering his best start in five years on the back of the February sell-off in global stockmarkets.  

Pease, who was appointed a non-executive director at Schroders in 2012, netted £26 million from the disposal of her stake in JO Hambro Capital Management  in 2011, where she served as chief executive during a 10-year stint at the firm. 

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350: The Hoare Family

The Hoare family's wealth rose by £40 million to £360 million during a period of major change for the UK's oldest private bank. 

C Hoare & Co, which was founded in 1692, manages some £4 billion for clients and is led by David Green (pictured).   

In October 2016 it sold its wealth business to Cazenove Capital for £72 million. More recently the bank promised 'millennial thinking', when it appointed 32-year-old head of philanthropy Rennie Hoare as a partner. 

 

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359: Sir Martyn Arbib and family

Perpetual was founded by Arbib at the end of the 20th century in Henley-on-Thames. In 2001 he netted £113 million after selling the business to Amvescap for around £1 billion.

Earlier this year Invesco said it would be dropping the Perpetual name in a move to have one unified global brand. 

 

 

   

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