Michael Lodge, BT’s former business development manager based in the South Island, has formed a new business called Fund Distributors Limited.
The company will specialise in raising investment funds from intermediaries, and has already signed up its first client – i-cap partners limited (i-cap).
Fund Distributors Limited will provide distribution services for a range of financial products to help intermediaries create more diverse portfolios for their investors.
"The aim of the company is to try and help independent advisers to differentiate their portfolios by providing niche products that can be offered to selected investors within their client bases," Lodge says.
“We expect to run educational and promotional seminars and road-shows on behalf of a number of firms seeking investors over the coming months”.
“We are keen to discuss with any companies that would like to use an agency service to raise investment funds, or promote their products and services in the regions, rather than employ their own full time sales staff.” said Michael. “I believe the contracting of sales agents is very un-developed in New Zealand compared to other countries, including Australia; in this regard the potential opportunities open to Fund Distributors Limited are considerable”.
The initial focus will be on running a series of seminars on behalf of i-cap around New Zealand in October and November. i-cap is a specialist private equity manager with offices in Auckland, San Francisco and Luxembourg. The focus is on providing both intellectual and financial capital for private companies seeking to grow. i-cap have recently launched two private equity funds, both chaired by Ruth Richardson, that focus on capital growth, and income respectively.
