Blairmore Holdings: its current fund nomenclature and dealings

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Blairmore Holdings did not die with Ian Cameron. On the contrary it was simply revamped and relocated to Ireland and is currently performing poorly. It now trades under the name Smith & Williamson Blairmore Global Equity (SWBGE), which describes itself as ‘unregulated’. Both of SWBGE’s managers were key to Blairmore Holdings. Details below…

(See also: The Camerons, the Blairmore project and the unanswered tax questions)

UPDATE: Channel 4 News has revealed that Ian Cameron was linked to a third (undisclosed by his son) offshore fund – namely, PMG Eagle Fund, based on the Cayman Islands. Why did David Cameron not reveal this and did he benefit from it?

A. Fund objectives/performance

The Smith & Williamson Blairmore Global Equity (SWBGE) fund describes itself as:

“The investment objective of the Fund is to achieve capital appreciation through investment in an actively managed long only portfolio consisting primarily of global equities…

The Fund is an Ireland domiciled UCITS scheme (FCA recognised) launched on 5th July 2012 with the transfer of assets from the Panama domiciled Blairmore Holdings Inc…

The unregulated scheme was launched in 1984.”

As of 7 April 2016 the fund size of SWBGE is USD 29.16m. According to TrustNet Offshore, SWBGE is performing poorly (see graph above). Here is a pdf that summarises SWBGEF.

B. Managing the Smith & Williamson Blairmore Global Equity

SWBGE is managed by Patrick Smiley and Nick Peppiatt – neither are newcomers to the fund.

Smiley joined Smith & Williamson in March 2006 and is a Partner with them. He has been a Director and co-manager of Smith & Williamson Blairmore Global Equity Fund (previously Blairmore Holdings, Inc) since 1997. Previously Smiley spent six years at Panmure Gordon before joining Leopold Joseph & Sons Ltd (now Butterfield Bank (UK) Limited) in 1996, where he was Head of Investment from 2003.

Peppiatt spent eight years at Panmure Gordon too, before joining NCL Investments Ltd in 2001. NCL subsequently merged with Smith & Williamson in 2003. Peppiatt is a Partner at Smith & Williamson and has co-managed the Smith & Williamson Blairmore Global Equity Fund (previously Blairmore Holdings, Inc) since 2001. He has been a Director of the Fund since 1998.


Here is a Blairmore Legal Disclaimer (via Smith & Williamson).

Note: it should be emphasised that none of the companies, individuals or funds named above have any connection with illegal activities.

See also: The Camerons, the Blairmore project and the unanswered tax questions

 

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4 Responses to Blairmore Holdings: its current fund nomenclature and dealings

  1. l8in says:

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  3. Pingback: The Camerons, the Blairmore project and the unanswered tax questions | UndercoverInfo

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