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Suisse multi team and funds moving to Aberdeen

Advisers have welcomed news that Aberdeen is to acquire Credit’s Suisse multi-manager arm.

The £730m range is to move across along with the entire multi-manager team, which includes co-heads Aidan Kearney and Graham Duce. The team will join on July 1, with the 12 onshore funds and four Sicavs set to move a month later.

Last December, Aberdeen acquired the majority of Credit Suisse’s fund management business in an all-share deal worth £250m. At the time of the deal, the multi-manager arm was to remain with Credit Suisse as part of its alternative solutions unit.

Skerritt Consultants head of investments Andrew Merricks says: “I like Aidan and Graham and I think they will be an asset to Aberdeen, who in turn may have realised that it now needs a multi-manager offering to be a main player in the market.”


FTSE slumps

The FTSE 100 fell by more than 2 per cent this morning on the back of negative data from the likes of the IMF and Standard and Poor’s.

Henderson rebrands UK retail business

Following the acquisition of New Star Asset Management, Henderson Global Investors has rebranded its British retail business as Henderson New Star.This is the second of the three main integration phases relating to the acquisition of New Star. The first was the completion of the deal and the third phase will be full administrative integration, the […]

UK platforms good to grow

The UK platform market has a higher potential for growth than the more established Australian market, even in the current market conditions, according to new entrant Macquarie.

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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