Both clients, which are to be announced this week, are high profile funds. One is placing all assets under Cardano’s solvency management process, the other is taking a mixture of management and consultancy.
The wins will take the one- year-old business half way towards its aim of having £20bn of assets under management, at which point it has vowed to close for new business.
However, Kerrin Rosenberg, chief executive of the firm, has revealed that it is particular about clients fitting its investment beliefs and for this reason it has turned down overtures from some other well known funds.
One of the reasons for the cap on clients is that it wishes to keep a high ratio of staff to clients.
Rosenberg also revealed that its process has held a zero weighting in equities all year and had built up a 30% position in cash. Cardano plans to change that ratio as it acquires distressed assets over the coming months.
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