Frequently Asked Questions
Q: How much will it cost me to set up a Fund?
Typically, we would look to help you with your successful launch by absorbing these costs ourselves – though you can elect to pay for them should you prefer. By absorbing the costs of launching your Fund, WAY allows you to invest in your marketing push. Other ACD’s are known to allocate certain costs of launching a Fund to the Fund itself (as is permitted) but we feel that this is an unnecessary burden on the performance of the Fund in its infancy and can further impair(?) the efforts of the Promoter.
Q: How soon could you set up my Fund?
This is a very difficult question to answer as there are a vast number of factors that impact upon a Fund launch, the most important of which is outside of the ACD’s control – the FSA application process.
As a very rough guide we would recommend that you should allow for at least three months for a new Fund launch during quieter months (ie. not during summer holidays or Christmas) and a further four weeks during busier times due to the number of parties involved.
It should be noted that for a new Fund application the FSA may take up to six months to approve an application.
Q: We have a great idea for a Fund and have already identified our target market but can you help us to appoint a suitable Investment Advisor?
Certainly. WAY looks after Funds for a wide range of Promoters, some of which have appointed independent Investment Advisors. We would look to assess your needs and consider any suggestions you may have before recommending a number of potential suitors to your proposed new Fund. WAY would then make an approach on your behalf and arrange meetings as necessary until you are comfortable with your selection.
Q: We already have Funds with another ACD but have heard great things about WAY – what would be our next step?
Please get in touch and speak to one of us about your existing Funds. We would be delighted to talk you through the various steps involved:
Peter Hugh Smith, CEO, WAY Fund Managers Limited
Telephone: 01202 854877
Vince Hoare, Technical Director
Telephone: 01202 854871
Q: What do you consider to be a viable Fund size?
We consider that, for a fund to reach viability in both a commercial sense and from the end user’s perspective, the Promoter needs to have a minimum target of around £5m of identified seed capital and a business plan that raises funds under management up to around £20m by the Fund’s third anniversary.
Q: Can you set up an offshore Fund for us?
Currently WAY does not have an offshore capacity, we specialize in UK authorised OEIC’s and Unit Trusts.