Veteran City fund manager Christopher Mills has revealed details of his new investment company, Achilles, which has set its sights set on poor performing trusts.
Mills, who is the founder, chief executive and chief investment officer of Harwood Capital, has teamed up with Robert Naylor, former chair of the Hipgnosis Music Royalties trust to launch Achilles.
The pair worked together to achieve an exit for investors at Hipgnosis Songs Fund and more recently is working with PRS Reit on a strategic review.
Achilles will invest in no more than four investment trusts at a time, and they will be in the alternatives sector, including real estate and infrastructure as Mills says “that is where the best opportunities are”.
Mills told FT Adviser: “The aim is to invest in up to four of the alternative investment trusts on the London market, and work with those trusts to improve corporate governance, and to narrow the discounts those trusts trade at.