City AM: Spencer-Churchill Miller to target MFOs - Spear's Magazine

City AM: Spencer-Churchill Miller to target MFOs

WEALTH management firm Spencer-Churchill Miller Private (SCM Private), run by star fund manager Alan Miller, plans to target family offices, expecting them to outsource more of their investment management.

WEALTH management firm Spencer-Churchill Miller Private (SCM Private), run by star fund manager Alan Miller, plans to target family offices, expecting them to outsource more of their investment management.

Meetings are arranged with ten family offices, with collective assets of around £15bn, and further London presentations are planned in the first quarter of 2010.

SCM Private says feedback from family offices so far shows they are unhappy with the total cost of investments.

They believe that UK equity fund investors could be paying as much as £5.8bn in hidden annual charges which are not included in the Total Expense Ratio (TER) of their funds.

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