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Aussie fund manager buys JO Hambro for £209m

Australian fun manager BT Investment Management is to acquire JO Hambro Capital Management Group’s core investment management business for £209m.

BTIM will acquire £7.1 billion of assets under management in actively managed funds and segregated mandates. The deal will also include a 9.9 per cent interest in JOHCM’s private client business.

The transaction is likely to occur in the fourth quarter of 2011.

In a statement today, JOHCM says the decision will not affect the operations of the business and their fund managers will continue to have full discretion over all investment decisions.

There are currently no changes to JOHCM’s existing fund managers and client-facing professionals. Jamie Hambro will continue in his role as chairman and Gavin Rochussen as chief executive.

The remaining part of the JOHCM Group, North Atlantic Value LLP, will not be acquired by BTIM.

BTIM is an Australian fund manager which holds over £22.63 bn of funds under management and is majority owned by the Westpac Group.

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