Daniel Godfrey planned to shake up the investment industry during his stint as Chief Executive of the Investment Association, the UK’s fund management trade body, but his plans to push forward consumer-friendly initiatives, including transparency around cost and charges, were continually shot down by members of the association.
So, as any entrepreneurial-minded individual does when changes from within are being blocked, he left to set up his own company that would make those very same changes externally. And so the story of The People’s Trust began.
The People’s Trust is a company that is 100% owned by the customers, with no external commercial interests to satisfy. It’s a multi-manager trust targeting a compound annual return of 7% after costs. It’s a trust that is aiming to be transparent about cost and investments made, and intends to offer staff incentives through shares instead of cash – a move generally believed to align decisions with long-term performance.
The fund is unique in that investments will be made on a seven-year view, and in that it’s focused on absolute returns instead of pushing for allocations to particular asset classes or markets. With one exception, the fund will invest a minimum of 1% into areas of social need through funds such as Big Issue Invest.
The fund has already lined up a plethora of industry veteran fund managers, people Daniel has undoubtedly handpicked for their similar stances on longer-term investment strategy. The list includes:
- Artemis Investment Management, UK smaller companies; lead managers Mark Niznik and William Tamworth
- Comgest, Pan-European; lead managers Arnaud Cosserat, Franz Weis, Alistair Wittet and Sébastien Thévoux-Chabuel
- First State Investments, Asia-Pacific including Japan; lead managers First State Stewart Asia Investment Team led by Martin Lau, Richard Jones, Vinay Agarwal and Alistair Thompson
- J O Hambro Capital Management, global; lead managers Ben Leyland and Robert Lancastle Lansdowne Partners, clean energy; lead manager Per Lekander
The trust’s IPO is now open on SyndicateRoom and looking to raise up to £125m. Join SyndicateRoom to invest.