1607 Capital Partners Chairman, Fred Tattersall, begins to study the closed-end fund universe and develops an affinity for this unique investment vehicle and the ability to buy a dollar’s worth of assets for less than a dollar.
Following the stock market crash of 1987, the extreme dislocations in the equity closed-end fund universe provides the opportunity to launch a dedicated investment product in this space within the structure of the independently-owned Tattersall Advisory Group (“TAG”).
After recognizing the long-term potential for this special closed-end fund vehicle, Jim Mallory joins the firm to begin to build a dedicated team and attract new clients.
Trading begins in the U.K. investment trust market after extensive research, uncovering many similarities to the closed-end funds traded in the U.S. Shannon Fake is brought on board to further develop this market.
The closed-end fund team branches out and begins to offer services to the fixed income clients of the firm by launching a dedicated fixed income closed-end fund product.
Ashley Long joins the team to further develop the strength of the investment process and broaden the capabilities of the group.
TAG is sold to First Union Bank. At the time, the firm was a traditional fixed income specialist and the closed-end fund group was working within this larger firm.
1607 Capital Partners is founded as the closed-end fund specialists from TAG leave to team up with Fred and Kirk Tattersall.
Assets under management quickly surpass $1 billion and the investment team is enhanced with the hire of a new Research Analyst.
With the increased research capability, the firm begins to invest in funds traded in Canada and Australia, broadening its ability to find attractive funds for client portfolios.
The firm surpasses $2 billion in assets under management and continues to build on its strong foundation for future years.
As value returns to the fixed income funds, the Taxable Bond product grows quickly. This, combined with continued strength in equity markets, allows the firm to surpass $3 billion in total assets under management.
To take greater advantage of the many funds dedicated to U.S.-domiciled companies, 1607 launches a dedicated U.S. Domestic Equity strategy.
1607 opens a UK office in London to better facilitate the firm’s trading and research in that market.
The firm surpasses $4 billion in AUM for the first time and brings on an external financial partner, Rosemont Investment Group, (www.rosemontinv.com) in order to better facilitate equity circulation, while ensuring long-term independence.