UK Enterprise Awards 2021

333 | UK Enterprise Awards 2021 Best Bespoke Investment Management Firm 2021 Peregrine & Black Investment Management (PBIM) offers full discretionary fund management services, working directly with its clients and alongside experienced intermediators to provide a tailored investment service. The company is partnered with some of the largest and best global custodians including Raymond James, Royal Bank of Canada, Credo International and Credit Suisse to offer the flexibility and independence that only a boutique manager can provide. Specialising in genuinely bespoke asset management solutions, the trusted team of experienced managers and analysts are focused on both protecting clients’ capital and achieving real growth over the longer term to offer the security, flexibility, and independence only a boutique firm can provide. “What really differentiates us from most of our peers is that when we ‘say’ we offer bespoke portfolios, we really do!” enthuses Graham Withers, Head of Discretionary Investment Management at the firm as he speaks of its key differentiators which distinguish it from competitors. “All of us have spent significant swathes of our respective careers at some of the largest companies in the industry but have now found a home at a specialist investment boutique as we want to continue to manage our clients and their investments in the way that we have thus far.” Graham joined Peregrine & Black in June 2019 and specialises in managing segregated portfolios for wealthy private clients, trusts and charities. He also has strong relationships with IFAs and their clients. “Despite often offering assertions to the contrary, the industry heavyweights have clearly decided that the best way to manage investment and systematic risk is to drive the model portfolio route wherein a central investment committee (seated far away from the clients themselves) decides what investments are bought and sold relative to a client’s individual risk. Each client Established in 2012, Peregrine & Black Investment Management is a fully integrated financial services group with offices in the UK and Bermuda. The group offers two principal services: investment management and institutional trading. We speak to Graham Withers who tells us more about the firm and its commitment to clients. Jun21305 is fitted to a portfolio whilst we believe that a portfolio should always be “fitted” to the client. The investment managers at PBIM do not simply want to be “client relationship officers” – we are fully committed to our belief that the best and most effective service for our clients is where we can not only discuss the investments within a portfolio but where we are also responsible for those choices too.” The UK has been particularly affected by the Covid-19 pandemic and, from a client portfolio perspective, the PBIM in-house Asset Allocation Committee ensured it maintained its US weightings, whilst also seeing it as an opportunity in the second half of 2020 to increase its formerly post-Brexit results underweight UK equity positions, and thereby benefit from a strong UK Equity recovery. Graham tells us that, in response to this, PBIM was progressive in its use of a thematic approach - both to portions of a portfolio or in providing a full thematic approach to an investment pot. “Themes such as Sustainable Energy, 5G Connectivity, Cloud Computing, IT Enablers and Future Food are, by definition, forward-looking and our size has allowed us to be nimble at incorporating these themes, as well as several others,” he explains. “Parallel to this, we have significant in-house expertise to cater for the financial industry’s increasing focus on responsible investment. ESG seems to have given way to being “responsible” and our Head of Responsible Investment Solutions has been active in this space for nearly 30 years – long before it became “trendy” – and we have been able to imbed “responsible investment” within our research process.” Industry trends include further consolidation, and it is looking increasingly likely that PBIM will soon have a small number of very large players, with many smaller boutique or family offices at the opposite end. Graham also believes that increased digitalisation of the client experience is core to being able to offer clients what they want, and the technological advantages, at least initially, seem to lie with the larger firms. “There is certainly a “race to the bottom” when it comes to fees, with all practitioners being squeezed at the margin. If we can remain competitive on fees (and smaller firms certainly have a cost advantage when it comes to overheads) as we do, then, hopefully, service will remain at the forefront of clients’ requirements, and here, one-stop boutiques can continue to compete strongly.” With such a strong ethos on providing bespoke packages and experiences for its clients, it is no surprise that the firm was recently voted Best Bespoke Investment Management Firm 2021. And it seems that this core value that is deep- seated in the company’s DNA is set to continue for the future, as Graham says: “We continue to look to grow our office by recruiting investment managers and financial advisors who share our vision of providing good “old-fashioned” client and trustee service, whilst also positively contributing to what goes into the portfolios.” Contact: Graham Withers Company: Peregrine & Black Investment Management Web Address: