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Premier acquires Solus from KBL

Premier Asset Management is to acquire the 63m Solus Eastern Enterprise Fund from KBL for an expected 1.91m.

The assets will transfer to the Premier Eastern enterprise fund, a sub fund of Premier Funds.

The 1.91m consideration is broadly equivalent to 3 per cent of the NAV of the fund, and will comprise an initial consideration in cash equal to 1.5 per cent of NAV.

The new fund will be managed at Premier by Richard Muckart, chief investment officer and head of Asian equities.

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