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11 October 2023
Sarnia Asset Management Limited, the Guernsey-based fund management company, has raised EUR 1m of additional growth equity.
The company is building an online marketplace that connects high-net-worth investors to high-performing niche funds.
Swen Lorenz, co-founder and CEO of Sarnia Asset Management: “Private investors are struggling to get information about – and access to – funds that offer a realistic chance of outperformance, real alignment between portfolio manager and client, and genuinely original investment ideas. Fund managers, in turn, often struggle to get access to a critical mass of self-managed private investors. Our marketplace will bridge this gap in the market.“
The Company recently registered its first fund, which offers access to a strategy with an audited, real-money track record of 25.6% p.a. net across the past 23 years.
Operating from Guernsey, GFSC-regulated Sarnia Asset Management can address investors in >100 countries representing over 80% of the world’s wealth. Guernsey is not just a well-respected jurisdiction for registering funds, but also offers more flexibility to design funds around customers’ needs. This sets it apart from jurisdictions where funds are subject to formulaic restrictions; as is the case with, for example, EU UCITS funds.
“We are focused on serving the rapidly growing market of ‘poor millionaires’. Private individuals with USD 1m-20m in investible wealth cannot get adequate financial advice from their high street bank, nor can they join Multi Family Offices or access brand name hedge fund managers. Our digital platform will provide them with access to information, a community of like-minded individuals, and products that match their needs and are accessible“, Lorenz added.
The additional financial backing for the Company’s plans is provided by a small number of private investors from Britain and Germany, all of which match the company’s typical client profile. Whereas many other early-stage ventures currently struggle to raise funding even at a lower valuation, Sarnia Asset Management experienced unprecedented demand for its shares.
“Our target clientele was vying to invest into our Company, which is the best endorsement our plans could possibly get. The additional equity allows us to grow our team and invest into building a global, scalable platform. Following more than two years of studying market needs and laying the groundwork, we can now focus on execution and growth”, Lorenz concluded.
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Sarnia Asset Management Limited, 1st Floor, Tudor House, Le Bordage Road, St. Peter Port, Guernsey, GY10 1DB, Channel Islands
By Sarnia Asset Management
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