Richmond transitions from IFA to fund manager

Richmond Asset Management is launching five offshore, Bermuda-domiciled funds aimed at Asian high-net worth and institutional clients, in a bid to transform itself from an investment advisor to a full-fledged boutique fund management house. The firm made its initial foray into managing its own funds two years ago with the introduction of Funds Optimization Service (FOS), a momentum strategy using dynamic allocations among mutual funds around the world. For the decade prior to that, R…