UK - The newly merged F&C Asset Management has partnered with fund managers Bill Brown, Robert Mitchell and Stuart Rollason to establish an investment boutique with a focus on investment in small companies.
The agreement will see the management of Active Capital Trust pls, AIM VCT plc and AIM VCT 2 plc pass on to the new company. F&C, which will receive a share of the revenues, will continue to provide company and secretarial and other services to the three trusts on a commercial basis.
F&C said it would remain manager of Discovery Trust plc with Robert Mitchell contracted to continue to provide portfolio management services.
Commenting on the partnership, Nick Criticos (pictured), head of UK retail and investment trusts at F&C said: “Since [the partnership] provides the Boards and shareholders with continuity of management, F&C will have an ongoing interest in these mandates and Bill, Robert and Stuart will achieve their aspiration of owning their own business.
“There will be no impact on the Baronsmead VCTs, managed by ISIS Equity Partners, who have developed their own independent AIM capability. This business operates behind ‘Chinese walls’ and has been physically separated from the F&C fund managers since 2001.”
The new F&C pan-European business manages £118.6bn in assets for institutional, insurance and retail clients.
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