Tim Warrington has been elected the new chairman of the Group of Boutique Asset Managers (GBAM) at the organisation’s AGM in London on Friday.
Stavanger based Warrington, the deputy Managing Director of Norwegian asset manager SKAGEN, joins Past Chairman, Jose Luis Jimenez, Chief Investment Officer at Mapfre and South African Hlelo Giyose, CEO of Johannesburg based First Avenue Asset Management, on the GBAM Board. Also, elected was Ladislao Larrain, the CEO of Chilean asset manager Larrain Vial Asset Management.
Beltran Parages of Madrid based value manager, azValor, retires from the Board by rotation having served three years. John Morgan, MD of Fortuna Asset Management Communications remains the Board’s Secretary.
Tim Warrington said,
“The Asset Management Boutique is an essential competitive element in the asset management landscape. The outperformance demonstrated by boutique asset managers over the long term needs to be more widely recognised as a force for good as society grapples with historically lower returns from pension schemes and other forms of savings. I look forward to leading GBAM to further its objectives of promoting the added value of boutique asset managers.”
The GBAM AGM agreed to hold the next annual meeting in Santiago, Chile, and to repeat its 2015 Value Conference in Siena, Italy, in the autumn.
The 2017 meeting focused on defining the culture of boutiques on issues such as ownership, remuneration, and structures. The meeting heard from both Tim Warrington of SKAGEN and Dr. Pius Fisch of Zurich based convertibles specialist, Fisch Asset Management, on approaches to employing new staff as well as remuneration structures.
The Group also discussed the definition of a boutique asset manager which it narrowed down to:
“A boutique asset manager is a smaller, highly motivated, specialist firm which aligns the interests of its owners, staff and clients while seeking consistent outperformance.”
NOTES TO EDITORS
The Group of Boutique Asset Managers (GBAM) is a global network of like-minded, independent specialist asset managers who have come together to improve their presence in international marketplaces.
GBAM is a network of senior executives who run independent specialist asset management firms. They have come together to improve their presence of their businesses in their respective marketplaces. They do so by sharing information and promoting their presence both individually and collectively to potential investors. GBAM is a private company limited by guarantee.
The principal activities of the GBAM are:-
· To foster cooperation among member firms
· To identify best practice and shared experience in all aspects of asset management (research,
portfolio management, risk control, marketing, etc.)
· To improve understanding of operating in international markets.
· To support members by highlighting their expertise in their chosen fields.
· By providing a representative voice in the media.
Membership of GBAM is by invitation only. Both firms and individuals are Members. Member firms and individuals include: Aubrey Capital Management; azValor; First Avenue Investment Management; Fisch Asset Management; Fortuna AMC; GBM; icf management; Lampe Asset Management; LarrainVial Asset Management; Mapfre AM; QUAERO Capital; Sella Gestioni; SKAGEN; Van Eck; Victoire; Zeal Asset Management.
Company Secretary (GBAM)