Quern’s first fund is reported to be a low-cost high-income fund investing in bonds and equities, for which it is targeting £10 million (around $15 million) in assets, with around half of this expected to be internal seed money. However Quern is reported to be targeting around £250 million in assets under management over the next five years.

According to the publication, Roantree will be the chief investment officer with a particular focus on fixed income, while Whittaker is a senior partner with responsibility for overseeing the equity portfolio, Tierney is the sales and marketing partner and Gardner is the chief operating officer and head of compliance.

“A lot of effort is going into the launch and developing our dual distribution strategy by going to fee-based advisers and discretionary wealth managers,” Tierney reportedly said. “After we have got the fund firmly established we will look at the next steps to take the business further.”