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Perpetual chairman Martyn Arbib…

Perpetual chairman Martyn Arbib finally sold his business to US fund manager Amvescap last week for £1.05bn. The sale sees one of the few remaining British fund managers fall into foreign hands. The resulting company will become the second-biggest retail fund manager in the UK behind Fidelity.

Both Perpetual and Invesco will remain separate for the current Isa season but a merger will then follow.

Full story, p2

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