PIC signs Middle East alliance with Jupiter

Published October 13th, 2009 - 09:49 GMT

Dubai-based Independent Financial Advisory (IFA) firm PIC today announced a strategic alliance with Jupiter Asset Management.


PIC, a member of the deVere Group of companies, the largest international IFA in the world, will be the first fund management company in the region to team up with an IFA to provide direct funds access and advice.


Under the agreement, deVere and Partners can now access 43 funds directly through its 150 financial advisory professionals based in the region. Jupiter will also provide investment training and support to PIC's consultants from some of the industry's top fund managers. Spencer Lodge, regional director for deVere and Partners in the Middle East, says: "Jupiter Asset Management has a superb reputation for producing consistent, strong performance across a range of funds. We are delighted to have formed this relationship in order to offer the company's top products to our clients.


"This alliance is a key milestone for us, as it's the first time in the region that a fund management company has teamed up with an IFA to provide direct funds access and advice. This means we are getting much more regular current information on the projections and decisions of the fund managers.


"Our clients stand to benefit as our consultants will now be trained by these highly experienced professionals and can now access knowledge that would normally only be given to top fund managers working inside Jupiter."


Kevin Scott, executive director international at Jupiter Asset Management, says: "This strategic alliance is an important development for Jupiter. With some 50,000 clients in over 100 countries, deVere offers significant potential for Jupiter to develop both brand awareness and sales internationally. We look forward to developing this relationship over the coming years."


With in excess of US$7 billion of funds under administration and management, deVere has over 350 consultants working in its 40 offices worldwide.

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