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Forsyth Partners Ltd goes into administration

Forsyth Partners Ltd and Forsyth Partners (Europe) have both been placed under administration.

David Dunckley and Steve Akers of Grant Thornton have been called in and will look to broker a quick sale for the fund of funds investment manager, which has some £600m assets under management.

A spokesman for the firm said that the funds are safe, however no trading will take place in the interim.

Last week, the group confirmed that it was in discussions with a number of interested parties which could lead to an offer for the business.

OBSR director Richard Romer-Lee says the independent research firm is saddened by the news, but says that its rating agency Forsyth-OBSR is a seperate company and the group does not anticipate any changes.

He says: “We have been aware of ongoing discussions regarding FPL and are saddened by the fact the Company is now in administration. However, we do not anticipate any disruption to the level of service provided by FOBSR.

“OBSR is committed to doing what is necessary to safeguard the integrity, quality and independence of the Ratings Service.

“We are in dialogue with FPL and the Administrator and will keep all clients and supporters informed of further developments relating to FOBSR. 

“For the sake of clarity, OBSR is independent of the Forsyth Group of Companies.”

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