The deal, which is subject to regulatory and Premier shareholder approval, will see over £850m of assets under management pass over to Premier.
Premier has also announced a strategic tie-up with PSigma Asset Management, which will see former Credit Suisse income guru Bill Mott and his team act as investment adviser for the flagship income range.
The Credit Suisse alpha growth, alpha income, income and monthly income funds have been run by a series of managers in recent years, including Leigh Harrison and Errol Francis. It is understood that Graham Ashby has now left to join LV= Asset Management.
Mott launched PSigma Asset Management alongside former colleagues Ian Chimes and Graham Fuller in February 2007 as a 50-50 joint venture with Punter Southall Group.
Premier has also taken on the growth umbrella of funds of Aberdeen. The funds transferred include the alpha growth fund, UK mid-250, fellowship, managed assets, smaller companies and UK thematic.
Premier Asset Management chief executive Mike O’Shea says: “We are delighted to be able to reunite the former Credit Suisse investors with Bill and his team at PSigma and excited at being able to welcome them to the Premier family. This acquisition of contracts is important to us but just as important is making sure investors feel very much at home. The whole process of moving will, no doubt, be helped by Premier’s alliance with PSigma. Bill will be a familiar name to many of the investors coming over and his reputation as one of the most highly respected managers of UK equities will, I’m sure, provide significant reassurance.”
“The remaining funds moving from Aberdeen will be passed to key members of the Premier investment team including CIO Paul Branigan, Head of Fixed Income Paul Smith and Head of Global Equities Mike Jennings. They are all relishing the prospects of picking up the reins and running with their new fund mandates. Premier is also in the process of strengthening its UK equity team in the mid and small cap areas.”