The Fund, a UK OEIC which launches in November, is a continuation of the investment strategy that Paul and John previously managed at both Cazenove Capital and Schroders, and will invest in UK registered and listed companies with a market cap of £50m – £2bn, based on growth potential and value.

The duo will attempt to deliver superior returns for clients by investing in a portfolio of between 40 and 60 stocks, using a bottom-up stock selection process.

Prior to launching Tellworth, Paul managed the award-winning Schroder UK Dynamic Smaller Companies fund from 2006 to 2017, with John joining in 2010. During their tenure in charge of the fund it returned 435% versus the benchmark FTSE Small Cap Index of 114%.

Commenting on the launch, Paul Marriage, Co-Founder of Tellworth and manager of the UK Smaller Companies fund, said: “Having managed a similar fund since 2006 at both Cazenove and Schroders, John and I are delighted to be launching this fund and look forward to discovering more UK gems for our clients in the coming years.”

As specialists in UK small and mid-cap stock picking, the Tellworth team will aim to continue to capture the alpha opportunity in small cap markets and strive to deliver superior returns to their clients. The new fund will sit alongside the team’s £500m UK absolute return strategy.

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Greg Thomas

Multi-boutique investment firm BennBridge has launched two boutique asset management partners in the UK – Tellworth Investments and Pembroke.

BennBridge was founded in November last year as part of Bennelong Funds Management. It provides operational and infrastructure support for local boutique funds management teams and distributes their funds across European and global markets.

Its first boutique partner, Tellworth, is an absolute return fund manager investing primarily in small and mid cap UK equities. The business is led by experienced investment managers Paul Marriage and John Warren, who formed Tellworth earlier this year after working together at Schroders.

As part of the partnership with Tellworth, BennBridge has been appointed as the investment manager of both the Schroders’ SARFCO UK Dynamic Absolute Return Fund and the Schroders’ SAS UK Dynamic Absolute Return Fund, managing £385 million (AUD$653 million) of assets at launch.

Tellworth has also expanded its existing team, with three new members of staff joining the business: Stephen Nash as head of trading; Seb Jory as head of data driven strategies; and James Gerlis as equity analyst, focusing on researching stock-specific investment opportunities.

BennBridge’s second partner, Pembroke, is an emerging markets (EM) equities manager founded by Sanjiv Bhatia, who most recently managed the EM portfolios within the Harvard Endowment from 2013 to 2017. It aims to generate alpha by identifying high conviction ideas derived from top-down themes and bottom-up fundamental analysis, with a low net exposure. Pembroke will be opening as a BennBridge boutique in the first quarter of 2018.

Greg Thomas, chief operating officer at BennBridge, said it is a testament to the strength of the BennBridge model that the business has launched its first boutiques with managers of such high calibre.

“Our strategic long-term partnerships are key to our business and we are confident that Paul, John and Sanjiv, and their teams, will continue building on their outstanding successes to date.

“Our business model is to provide a holistic range of services to our boutique partners, allowing them to focus on what they do best – managing clients’ assets.

“This model has proven a successful one in Australia, where Bennelong Funds Management has been operating for eleven years,” Mr Thomas said.

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