Dawnay Day Milroy, the Channel Islands-based investment management firm, is to open a new office in Jersey, complimenting its existing offic...

Dawnay Day Milroy, the Channel Islands-based investment management firm, is to open a new office in Jersey, complimenting its existing office in Guernsey. DDM announced the plan, which will make it one of the largest firms in the islands, amid burgeoning returns of over 5 per cent so far this year on its client portfolios. An absolute returns strategy, targeting key intermediaries and private clients based on both islands and internationally, has earned over 11 per cent per annum over the last eight years, said DDM in a statement. Robert Milroy, Guernsey director said DDM combines the right size and attitude, offering an opportunity for clients to move away from the big institutional approach to wealth management. Robert Milroy, Paul Meader and Alison Brooks in Guernsey are joined in Jersey by David le Cornu, Scott Kelly and St John Burke; all experienced in managing portfolios and providing a personal relationship with clients. Mr Kelly will head up the Jersey business and believes that there is potential to expand in the market with further hires.