Global wealth management group Blacktower and Guernsey-based investment management firm Nova Wealth have launched a joint venture discretionary fund management service.
The new business – Nexus Portfolio Management Limited (NPML) – is a boutique offshore investment manager that will complement Blacktower’s Sicav range of funds.
It focuses on capital preservation and long-term capital growth for its client base through discretionary multi-asset, multi-manager portfolios and, where appropriate, bespoke direct security investment solutions.
The new business has been founded by Blacktower Managing Director John Westwood and Nova Wealth MD Ross Preston, who now both serve as Directors of NPML.
NPML is incorporated in Guernsey and licensed by the Guernsey Financial Services Commission. It will use the existing investment management and custody platform powered by Nova Wealth.
Guernsey law firm Ferbrache & Farrell provided all legal and regulatory advice on establishing and structuring the firm, led by Partner Gavin Farrell and Associate Belinda Hartzenberg.