Auckland-based boutique firm Castle Point Funds Management has celebrated its third birthday by signing on a new distribution partner.
Richard Stubbs, Castle Point co-founder, said last week the deal with Heathcote Investment Partners would lift the firm’s profile in the advisory market.
“We have been looking to increase our resources for supporting advisers and partnering with Heathcote will help us considerably,” Stubbs said in a statement.
Clayton Coplestone, Heathcote chief, said the firm would market the range of Castle Point funds to the NZ advisory industry. The boutique currently offers two retail funds – the Ranger and 5 Oceans funds – as well as a trans-Tasman strategy open to wholesale investors only.
Castle Point recently racked up a three-year track record, typically the trigger-point for official consideration by industry gate-keepers – wholesale investment consultants and retail research houses.
“… after three years of establishing the Castle Point investment capabilities we are delighted to be receiving a growing number of enquiries and support from financial advisers and wholesale investors,” Stubbs said.
The boutique was launched in April 2013 by a bloc of Tower Investments portfolio managers left homeless following its purchase by Fisher Funds earlier the same year.
As well as Stubbs the Castle Point team includes Stephen Bennie, Jamie Young and Gordon Sims.
Stubbs said the manager has “a focused aligned team, a long-term approach and a rigorous approach to in-depth research” while using cash as a defence.
To date, Castle Point has accrued more than $120 million in funds under management, mostly via individually-managed accounts. The Ranger fund has about $14 million under management while the 5 Oceans product launched this September.
Coplestone said Castle Point would feature in the group’s ‘Meet the Manager’ roadshows next March.
“We have experienced Castle Point’s highly disciplined investment approach first hand, and remain impressed with their emphasis on thorough research combined with a focus towards the preservation of capital,” he said in a statement.