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AJ Bell acquires London-based investment manager

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AJ Bell has acquired a London-based investment management business in order to launch its own range of funds.

The acquired firm is made of two parts. The first includes Indexx Markets Limited, which designs investment products, and its subsidiary Allium Capital, which operates an existing range of multi-asset funds, named the FP Allium DRP funds.

The second part of the firm is investment management services firm Mansard Capital, which runs the Allium funds.

A spokesman from AJ Bell said the deal, which is subject to FCA approval, was made through the firm’s cash reserves but couldn’t give further details on the price paid.

AJ Bell says: “The acquisition adds investment management services to our business, which gives us discretionary permissions as well as the ability to launch our own funds and build new investment solutions for financial advisers.”

AJ Bell head of investments Alex Dymock will run the new business and report into chief executive Andy Bell.

The firm says: “Through this vertical integration we will be able to increase the value we deliver to financial advisers. We will work with financial advisers to build solutions they need to service their client’s needs.”

The firm recently said it was launching a model portfolio service early in 2016 but says it has no plans to offer full active management.

The purchase means the AJ Bell will offer a “low cost” range of passive funds and a model portfolio service based around passive funds. Charges have not yet been disclosed.

The Allium multi-asset funds will also be available on the AJ Bell platform and there are no plans to rebrand them, the firm says.

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