Premier Asset Management has bought the management contracts of 10 UK Oeic funds acquired by Aberdeen in its recent takeover of Credit Suisse Asset Management.
The transfer of the contracts, worth £850m, will boost the privately-owned firm's assets under management to around £2.3bn. Under a new strategic alliance between Premier and PSigma Asset Management, former Credit Suisse manager Bill Mott will act as investment adviser on the Alpha Growth, Alpha Income, Income and Monthly Income funds. Also included in the deal are the Corporate Bond Monthly Income, UK Mid 250, Fellowship, Managed Assets, Smaller Companies and UK Thematic funds, which will be run by Premier's CIO Paul Branigan, head of fixed income Paul Smith and head of global equiti...
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