Saltus Fund Management has acquired Midlands-based discretionary fund manager Montague Capital.
Saltus will provide investment management services to Montague as part of a transitional agreement, during which time Montague clients will be invited to move across to Saltus.
According to Saltus, the move will allow it to significantly broaden its current product offering, with Montague clients set to benefit from additional investment research.
Saltus partner Simon Armstrong says: “The integration of the new business should be seamless and we look forward to earning the respect and trust of Montague’s clients and introducers.”
Montague chief executive Julian McGinnity says: “It was important to me to find a partner that shares the same core values regarding client service and investment philosophy.
“I am confident that the transition to Saltus will be a positive experience for our clients and introducers.”
AWD Chase de Vere head of communications Patrick Connolly says: “There will be growing demand for discretionary management services both from clients and advisers and consolidation will continue over the months ahead.”