Back in 2005, the co-founders of Boyer Allan Investment
Management were acutely aware of the need to diversify their
business if it was to reach its full potential. However, with
more than $1.9 billion in assets under management and a highly
successful flagship fund that had been hard-closed for several
years, this proved to be easier said than done.
Bringing in ex-Goldman Sachs prime brokerage man Roger
Denby-Jones as chief executive officer marked the turning
point, but shifting the client mix and product range of a firm
with substantial AUM is akin to navigating an oil tanker in a
different direction - it can't be achieved quickly unless there
are external forces at play. In the end, the process was helped
along by what Jonathan Boyer looks back on as a
'life-threatening experience'- large-scale redemptions in 2008
and 2009 that took the AUM down to a...