A Boutique Outsources and Integrates Distribution ... At the Same Time
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Thursday, October 15, 2015

A Boutique Outsources and Integrates Distribution ... At the Same Time

A fixed income boutique in Southern California is about to outsource and integrate its distribution efforts, at the same time.

David Young
Anfield Capital Management, LLC
Founder, Chief Executive Officer
David Young, founder and CEO of Newport Beach-based Anfield Capital, confirms that two of his three distribution staff are going to "basically transfer and go work for Elysian," i.e. Elysian Capital Markets Group, Anfield's third-party marketing (TPM) ally led by John Harleen. Meanwhile, Young will keep his third distribution specialist, director of business development Craig von Peters, in-house to manage Anfield's relationship with Elysian and more.

Young hired Elysian early this year and says he's "very pleased with how the relationship has developed." Yet he wanted "to outsource more fully [Anfield's] mutual fund and separate account distribution activity." And so the staff transfer plan, which Young describes as a "furtherance of the outsourcing [combined with] a heightened degree of integration."

"They're going to embed some Anfield DNA in the third-party marketer ... They'll take the pipelines and the established relationships with them," Young tells MFWire. And those two former Anfield staffers will be able to market other funds for Elysian, too, from other managers the TPM shop works with. "That will beef up Elysian."

And the personnel shift isn't the only piece of the distribution puzzle that Young's changing.

"We are doing away with territories. We're doing away with lists ... and ownership of clients," Young says. "I'm going to pay Elysian Capital Markets on every dollar that comes into my mutual fund after a certain date. I am indifferent between whether or not my internal staff generates the sale ... or whether Elysian generates the sale."

Anfield is full of Pimco alumni (hence the Newport Beach HQ) and has a team of 12 people (10 after the shift) working with about $100 million in AUM, about $60 million of which is in Anfield's flagship mutual fund.

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