Sanlam Investments is to assume responsibility for eight Smith & Williamson managed funds, boosting the firm's assets under management (AUM) by £1.2bn and adding six fund managers to the team.
The deal will see Sanlam take on several equity, fixed income and thematic funds, subject to approval from both boards of S&W Fund Administration and S&W Investment Management Ireland, and will bring the firm's total AUM to £7.3bn. Almost half of the total AUM moving to Sanlam comes from the £584m S&W Artificial Intelligence fund, which will boost the company's specialist thematic offering. Also part of the deal, which is expected to be completed by the end of January, are three equity funds - S&W North American Equity, S&W UK Equity Growth and S&W European Equity - and three fixed in...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes