Proactive Investors - Run By Investors For Investors

Tavistock Investments receives £1mln injection through strategic alliance with affinity group

The two companies will develop a range of investment products
trading screens
Tavistock funds will be made available to Lighthouse clients

Wealth Manager Tavistock Investments PLC (LON:TAVI) has received a £1mln cash injection from affinity specialist Lighthouse as part of a strategic alliance.

The two companies will develop a range of investment products for Lighthouse’s clients under its Luceo brand.

WATCH: Strategic alliance with Lighthouse Group a 'win-win', says Tavistock Investments' Raven

Tavistock has launched a range of funds under the Acumen brand that comes with capital guarantees and different levels of risk.

Lighthouse will make these capital protected products available to its customer base with the possibility of more of Tavistock’s funds also being included within its model portfolio.

AIM-listed Lighthouse has affinity agreements with 21 organisations with six million members.

The £1mln investment was part of a total fundraising of £1.25mln by Tavistock at 3.28p, a 10% discount to the close last night.

Following that cash injection, Tavistock intends to replace a £2mln debt facility with a new one that will be £100,000 per year cheaper.

Brian Raven, Tavistock's chief executive, said: "The establishment of a strategic relationship between Lighthouse and Tavistock is a significant development for both groups.

“Its selection of Tavistock as its partner to further develop its Luceo range of investment solutions is a strong endorsement of our expertise in this field.”

View full TAVI profile View Profile

Tavistock Investments Timeline

Related Articles

Video conference call
The company’s core software-as-a-service product aims to make audio conferencing simpler, and more productive
The company expects to open its vault for even more cash takings
January 21 2019
Contracted revenues were $3.7 million last quarter but didn’t include Solo app sales for Samsung watches.
gambling chips
March 12 2019
Bragg’s GiveMeSport has a bigger following on Facebook than ESPN and Sky Sport

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use