The UK-based wealth management firm Vestra Wealth has launched a new hedge fund advisory service aimed at clients looking for due diligence, research and advice on alternative investments with Mario De Bergolis, the new service’s head of operational due diligence.

The firm said its new service provides analysis of single manager hedge funds rather than funds of funds. “The aim of the hedge fund advisory service is to fully understand the investment rationale of a selected hedge fund and have clear evidence that it is well run,” says De Bergolis. “This deeper due diligence and research enables us to provide informed, independent advice to our clients.”

De Bergolis joins Vestra from GlobeOp Financial Services, where he was head of the UK implementations team. In addition to De Bergolis's new role, the new service will be overseen by Hendrik van Riel, chair of the Vestra Wealth investment advisory board. The firm said the appointment complements the role of fund management due diligence, currently filled by Meena Lakshmanan.

Vestra has approximately £150 million ($241.8 million) invested in hedge funds, representing 6 per cent of its £2.2 billion of assets under management.

In related news, the firm appointed three portfolio managers, Andrew Palmer, Bandish Gudka and Oliver da Cunha, in April.