Punter Southall takes 100% ownership of PSigma
Punter Southall Group has taken 100 per cent ownership of joint venture PSigma Asset Management.
Punter Southall had a 50 per cent stake in the fund management boutique when it was formed in 2007 and founding partners Bill Mott, Graham Fuller and Ian Chimes had the remaining 50 per cent.
Chimes says all PSigma staff who had equity or options in the firm will now have equity or options in Punter Southall, including Fuller, who stepped down from day-to-day duties at PSigma in spring 2010 but remains a consultant.
Mott says there will be no changes to the key investment teams or managers and the funds and institutional mandates will continue to be managed in the same way.
He says: “It will be business as usual for us, with no changes to roles and responsibilities within the UK team.
“There will be no change to the way the UK funds and institutional mandates are managed. All staff at PSigma Asset Management have equity or equity options participation in the group and will benefit from its continued growth and success.”
Punter Southall chief executive Jonathan Punter says: “Our business keeps growing and this agreement is part of the strategy to provide a unique range of financial services. Over the last five years, we have enjoyed a creative and fruitful relationship with Bill and Ian and look forward to working together for continued future success.”
Skerritt Consultants managing director Andrew Merricks says: “I cannot see a lot changing at PSigma Asset Management. The most important thing for investors is that the main players are staying there.”