iM Global Partner announced in a press release that its Luxembourg-based Oyster fund range has changed its name to iMGP Funds. The decision is part of “an extensive rebranding effort” in response to its accelerated company growth and a renewal of its corporate vision.
“At the heart of the rebranding initiative, is a change of the company’s Oyster fund range to iMGP Funds”, the firm added. Specifically, the US funds changed their name on 16th December 2021 and the Luxembourg-based SICAV on January 10th.
The worldwide investment manager highlighted that 2021 was “a milestone year” for its business, as it broadened its asset management network with two new partners: Richard Bernstein Advisors who joined in July 2021 and Asset Preservation Advisors in September 2021. In its view, both have provided clients with access to “an even wider selection of distinctive high-quality funds”.
The firm also acquired 100% of the Litman Gregory wealth management and funds businesses, strengthening its US distribution footprint and capabilities. Consequently, iM Global Partner’s assets under management almost doubled in 2021 from US$19.6 billion in December 2020 to US$38 billion in December 2021 and staff numbers grew from 50 to 115.
“In the last few years, iM Global Partner has cemented its status as a market leader in distinctive fund products. We experienced over 90% growth in assets under management last year. This growth reflects the increased recognition that asset managers must provide transparent funds that perform competitively on a risk adjusted basis”, commented Philippe Couvrecelle, CEO and Founder of the company.
In this sense, he believes that this announcement provides them with “the unique opportunity” to ensure their brand becomes synonymous with quality: “Our brand reflects the strength, sustainability and flexibility of our investments solutions”.
Couvrecelle explained the announcement demonstrates the confidence his team has in the company’s future and lays the groundwork for further expansion which will be demonstrated in 2022. He added that the firm plans to reach $60-65 billion in 3 to 4 years and $150 billion in 2030, with 4-6 new partners by 2023/2024.
“The iMGP Funds range illustrates the diversity of our high-performing team of top-notch asset managers spread throughout the world. At iM Global Partner, our clients know that our brand stands for quality – we search the world to find the most capable fund managers with the tenacity and innovation to achieve investment returns in any market environment. Therefore, we are confident that 2022 will be another good year for iM Global Partner and particularly iMGP Funds,” he concluded.