Former Ruffer partner and investment director, Harry Sevier, has launched Lulworth Investment Management, an independent discretionary investment manager.

Lulworth will be under the regulatory umbrella of P1 Investment Services, partnering with the firm to launch absolute return model portfolios.

As part of the launch, Lulworth is introducing a series of absolute return, time horizon-focused portfolios, which will be launched on the P1 Platform and available across other investment platforms “in due course”.

The suite of model portfolios aims to be tailored to different client needs: Growth, income, and ethical mandates, with each designed around clear time horizons.

Lulworth stated that its approach would look to balance active management with an emphasis on capital preservation and growth in real terms, regardless of market direction.

The independent discretionary investment manager will work with private clients, advisers, and charities.

Alongside its model portfolio service, Lulworth also offers tailored discretionary services for clients seeking one-to-one portfolio management.

Lulworth founder and investment director, Sevier, began his 15-year career at Ruffer as an investment associate, later becoming an investment director and partner.

At Ruffer, he managed discretionary portfolios for private clients, families and charities, whilst also being an ESG and ethical investment specialist.

Commenting on the launch, Sevier stated: “The ongoing consolidation in the wealth management industry often leaves clients underserved, with limited choice and a lack of personal service.

“Lulworth was founded to challenge this trend, whilst providing thoughtful portfolios for an uncertain and potentially volatile economic environment ahead.

“By partnering with P1 and using their innovative technology, like their Invest Pilot, it lets us focus on investment management while being committed to high-touch, tailored client servicing without being bogged down in paper and admin.”

P1 Investment Services CEO, James Priday, added: “It’s great having Harry and Lulworth partner with P1. Harry and his team bring an innovative approach to wealth management.

“We’re excited to be able to support another investment manager taking the opportunity to develop their own proposition and build their business.

“This partnership underscores our commitment to offering a diverse range of portfolios and investment solutions that meet the nuanced needs of advisers and their clients.”

Lulworth is the sixth investment manager to be hosted by P1 Investment Services, joining Corrival, 5 Horizons, Magellan, Pangea and Elston Consulting.

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