Private Briefs

Risk management service from Reuters and Barra

Barra and Reuters have teamed up to create an institutional style risk management service for private wealth managers. Jane Platt, head of fund management services at media and information services group Reuters, said Reuters Portfolio Management Service would be a portfolio construction tool with Barra’s risk assessment model built in. Reuters Intelligent Adviser, meanwhile, “will allow high net worth advisers to manage a number of portfolios efficiently”, she said. It will bring together Reuters’ news, Barra’s risk analytics, and information from Reuters’ fund research subsidiary Lipper. The Lipper database of mutual funds will be used to allow advisers to drill down into the funds a certain client has invested in and determine exposure to particular sectors and stocks.

Private equity veteran sees hope in life sciences Private equity still holds “tremendous opportunity” for Europe’s affluent investors, according to City of London veteran George Magan. The private equity firm he chairs, Lion Capital Advisers, has launched a fund investing in smaller life sciences companies in early to mid stage development. The fund is targeting ambitious returns of 21 per cent. The closed-ended vehicle is aiming to net $100m and the minimum subscription is $250,000.

Bankers and brokers to benefit from update UK technology provider for independent financial advisers 1st Software is upgrading its package for private client brokers and bankers. The new version of its existing technology will be called Adviser Office 2. It will offer access to a comprehensive range of data and services through a single electronic point of access. These include fund supermarkets such as Fidelity, life offices like Scottish Widows and data feed providers including FT Interactive.