Tutman

What Tutman does

Tutman is a UK Authorised Fund Manager (AFM) operating as a unified trading brand across three FCA-regulated entities: Thesis Unit Trust Management Limited (FRN 186882), TUTMAN LLP (FRN 612721) and Tutman Fund Solutions Limited (FRN 122401). The firm provides collective investment scheme management services for UK regulated funds — including unit trusts, ICVCs and trusts — overseeing 332 funds, 77 fund managers and 5 fund types with approximately £41.16 billion in assets under management, generating revenue through recurring management fees on AUM. Tutman delegates investment management to appointed managers while retaining regulatory oversight as the AFM, and operates from a headquarters in Chichester and a fund solutions office in Glasgow serving retail and institutional investors.

Distribution follows a channel-led model: Tutman does not promote funds directly to end investors, instead relying on financial advisers and intermediaries to channel investors into its funds, while appointed third parties handle registrar, fund accounting and transfer agency functions. The product set spans core fund management plus investor disclosure services including KIIDs, NURS-KII documents, Assessment of Value reports, Prospectuses and a multi-year TCFD reporting programme (entity-level reports for 2023/4, 2024/5 and 2025/6 plus fund-level climate disclosures). Reported global annual turnover exceeds £188 million for Thesis Unit Trust Management Limited as at 30 April 2025 and over £47 million for Tutman Fund Solutions Limited as at 31 December 2024, aggregating to approximately £235 million across the two principal reporting entities.

The current corporate structure reflects a recent consolidation: Tutman Fund Solutions Limited (formerly Evelyn Partners Fund Solutions Limited) was acquired by the Thesis group and rebranded, with Thesis Holdings Limited becoming its immediate parent effective 30 June 2025. The ultimate parent is Regit Topco Limited, a Jersey-incorporated holding company. Two CEOs lead the operating entities — David Tyerman at Thesis Unit Trust Management in Chichester and Neil Coxhead at Tutman Fund Solutions in Glasgow. Tutman's stated geographic scope is the United Kingdom, with website terms expressly restricting access from the United States and other non-UK jurisdictions.

Name

Tutman

Legal name

Tutman (trading name of Thesis Unit Trust Management Limited, TUTMAN LLP and Tutman Fund Solutions Limited)

Website

https://tutman.co.uk

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

51–100 employees

Short description

Tutman is a UK Authorised Fund Manager trading through three FCA-regulated entities, managing approximately £41.16 billion across 332 collective investment schemes for retail and institutional investors via financial adviser networks.

Ownership category

akta.pro rank

Product category

Fund Management Services

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Trusts, Estates, and Agency Accounts (52592), Trusts, Estates, and Agency Accounts (525920)

akta.pro primary industry

Transfer Agency & Shareholder Recordkeeping (FSAAAMAA)

akta.pro secondary industries

Escrow, Trust & Agency Services (escrow, paying agent, trustee) (FSABAIAI), Transfer Agency & Shareholder Recordkeeping (Custody-Linked) (FSAFAHAJ)

Keywords

• Authorised fund management
• Collective investment schemes
• Fund administration services
• Transfer agency services
• UK fund management

Headquarters

HQ city

Chichester

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Fund Management Services: Tutman acts as the Authorised Fund Manager (AFM) to a range of UK regulated collective investment schemes, earning management fees from the funds under administration. The company operates three entities: Thesis Unit Trust Management Limited, TUTMAN LLP, and Tutman Fund Solutions Limited.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Tutman is a UK trading name used by three FCA-regulated fund management entities that deliver authorised fund management services for collective investment schemes, including unit trusts, OEICs, and investment companies with variable capital. The firm also provides fund administration, corporate services, and transfer agency for institutions and wealth managers, overseeing 332 funds with £41.16 billion in assets under management across five fund types.

Product overview

Tutman is a UK-based authorised fund manager operating under three regulated entities: Thesis Unit Trust Management Limited, TUTMAN LLP, and Tutman Fund Solutions Limited. The company provides collective investment scheme management services, overseeing 332 funds with approximately £41.16 billion in assets under management across 5 fund types. Tutman acts as the Authorised Fund Manager (AFM) for unit trusts, ICVCs, and trusts, delegating investment management to appointed investment managers while maintaining oversight. The product portfolio includes the fund management platform itself, along with associated services such as TCFD reporting, fund literature distribution, and investor communication tools. St Vincent Street Fund Administration is a trading name of Tutman Fund Solutions Limited.

Differentiator

Problem solved

Functional benefit

Products and services

• Authorised Fund Management for Collective Investment Schemes FCA-authorised fund management covering Unit Trusts, OEICs, ICVCs, ACSs, and QIS (AIF) structures, delivered to institutional, retail, and charity investor segments across 332 funds overseen by 77 fund managers.
• Fund Administration and Transfer Agency Services Fund administration, custody, and transfer agency delivered in partnership with Northern Trust, providing middle and back office infrastructure to support the authorised fund management business.
• TCFD Entity and Fund Level Reports Climate-related financial disclosures aligned with FCA ESG requirements, covering climate-related governance, strategy, risk management, and metrics and targets for the management entities and the funds under management.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Thesis Services LimitedcoreOthersAssociated company within the Thesis group that may receive investor personal information for processing purposes. Thesis Services Limited is an affiliated service provider engaged by Tutman on behalf of the Funds.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Apex Group: Apex Group is a global fund services platform offering fund administration, depositary, custody and corporate services. It competes with Tutman across UK AFM and fund administration mandates and has been actively acquiring UK-based fund administrators, including Sanne.
• Ocorian Fund Services: Ocorian is a global provider of fund administration, corporate, fiduciary and regulatory services. It overlaps with Tutman across UK fund administration, transfer agency and corporate services for collective investment schemes.
• Link Group (Link Fund Solutions): Link Group operates one of the largest UK and global fund administration and Authorised Fund Manager platforms. It directly competes with Tutman in providing AFM, fund administration and transfer agency services to UK unit trusts and ICVCs, but at significantly greater scale.

Direct peers

• Waystone (formerly MUFG Fund Services): Waystone is a leading provider of fund governance, administration and Authorised Fund Manager services across Ireland, the UK and other jurisdictions. It is a direct competitor to Tutman in providing AFM and outsourced fund solutions to UK managers.
• Maitland Institutional Services: Maitland provides fund administration, AIFM and corporate services across UK, Jersey, Luxembourg and other jurisdictions. It is directly comparable to Tutman in providing outsourced fund services to UK investment managers and family offices.
• FundRock Partners: FundRock (part of Apex Group) is a European AIFM and ManCo providing Authorised Fund Manager-equivalent services. It competes with Tutman for UK and pan-European fund governance and administration mandates.
• Langham Hall Fund Management: Langham Hall provides fund administration, AIFM and depositary services to alternative and traditional fund managers, with a strong UK and European presence. It is a direct comparable to Tutman in servicing UK-based fund sponsors.

Emerging players

• Sanlam Fund Services (via Sanlam Investments): Sanlam Investments UK provides fund management and administration services through regulated entities, offering a competing AFM-style proposition for UK wealth platforms. It is comparable to Tutman in serving wealth-channel fund structures.

Others

• Thesis Asset Management: Thesis Asset Management is part of the broader Thesis group that owns Tutman, providing investment management services. It is comparable as a related-party ecosystem participant and represents an internal client base that Tutman's AFM platform services.
• Evelyn Partners (legacy Fund Solutions business): Evelyn Partners' former Fund Solutions Limited business was acquired by Thesis Group and rebranded as TFSL. As the predecessor entity to Tutman Fund Solutions, it provides a direct historical comparison for the AFM/administration franchise Tutman now owns.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tutman