Axa Framlington sells private client operation to Psigma

Part of the Punter Southall Group, PIM has £1.5bn of assets under management and sees this transaction as an "important milestone in its continuing growth".   It is buying the private client business, previously known as Axa Framlington Portfolio Management, a specialist division within the UK equity team at Axa Framlington, providing clients with a fully bespoke portfolio management service. It is currently responsible for approximately £380m of assets under management. The three portfolio managers, Rupert Hunter, Michael Firth and Jon Gould, together with their six support staff wil...