News from Frostrow Capital

Frostrow Capital acquires its first three clients

by Will Jackson, 16 Apr 2007

Frostrow Capital, a provider of management services to investment companies, has acquired its first clients.

The firm, approved by the Financial Services Authority in March and founded by Alastair Smith, will support three investment trusts – Finsbury Growth & Income, The Biotech Growth Trustand Finsbury Worldwide Pharmaceutical.

Smith, a former managing director of Close Finsbury Asset Management, says the business will grow through the acquisition of trusts and the launch of more products. “We are talking to a couple of managers overseas who want to list in London,” he adds.

Frostrow has four employees, following the arrival of Grant Challis, Mark Pope and Tracy Arthur last week, from Close Investments. The firm will target boutique-run trusts, by providing accounting, operational, secretarial and marketing support.

Smith says Frostrow’s first task is to work on the annual reports and accounts of the biotechnology and pharmaceutical funds. He says: “Our immediate focus is on making sure that all three clients are looked after properly. Our goal is to get all of the shares trading at a premium, allowing the trusts to grow.”

While the boards of the trusts may decide to change the names of the funds, Smith says he will not push for a Frostrow rebranding. The management of the trusts is unaffected by the move. The changes were announced to the London Stock Exchange last week.