TIP Group launches first UK fund

The wealth and investment banking division of ASX-listed Teaminvest Private Group (TIP), TIP Wealth, has announced the launch of its first UK fund.

The new fund, the TIP Group Sterling Debt Fund, is managed by TIP Group subsidiary TIP UK and operated by TIP Trustees.

Open to wholesale investors, the Sterling Debt Fund aims to generate a target fixed income interest rate return of 7% above the Bank of England's base rate (currently 1.25%). Also, interest distributions will be made quarterly to investors.

TIP UK head Malcolm Rutherford will manage the TIP Group Sterling Debt Fund, which is focused on identifying opportunities that provide strong risk-adjusted yields, from private debt to businesses associated with TIP Group.

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Rutherford said: "We have already identified a number of immediate opportunities and we'll be providing debt funding to special purpose vehicles known as Trading Companies via Enhanced Trading Solutions UK, seeking to invest only in those that meet our rigorous investment criteria."

"As the fund grows, the plan is to invest in other corporate debt instruments associated with TIP Group companies on a case-by-case basis."

The Sterling Debt Fund joins existing TIP Group wholesale fund managers, the Teaminvest Diversified Growth Fund, the Coliving Future Property Fund and the retail Teaminvest Access Fund which, as previously reported by Financial Standard, was acquired from Burman Invest in June.

Recently, TIP Group has also made several key hires.

This month TIP named Rachel Swift as chief strategy officer; she is leading the wealth division's corporate advisory practice.

In June, TIP Group also appointed Timothy Wong as its new head of equity and Michael Baragwanath as head of wealth.