Harry Sevier, former investment director at fund manager Ruffer, has teamed up with P1 Investment Services to launch a boutique investment management firm based in London.

Known as Lulworth Investment Management, it will offer discretionary management to private clients, charities and advisers.

It is also launching a series of absolute return, time-horizon focused portfolios on the P1 Platform and other investment platforms in due course.

The portfolios are tailored to distinct client needs such as growth, income, and ethical mandates, and designed around clear time horizons.

Mr Sevier said the firm’s approach will balance active management with an emphasis on capital preservation and growth in real terms, regardless of market direction.

Mr Sevier was at Ruffer for 15 years starting as an investment associate in September 2008, after graduating from Edinburgh University.

He became an investment manager in 2011 and in 2017 was appointed a partner at the firm and investment director, managing discretionary portfolios for private clients, families and charities.

He is a member of the CISI, and has been awarded the CISI diploma and received an outstanding achievement award for investment analysis.

He said: “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, while providing thoughtful portfolios for an uncertain and potentially volatile economic environment ahead.”

Lulworth will be an independent discretionary investment manager under the regulatory umbrella of P1 Investment Services.

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

James Priday, chief executive of P1 Investment Services, said: “It’s great having Harry and Lulworth partner with P1.

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