Brooks Macdonald poised to complete takeover as assets grow 28%

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Brooks Macdonald said today it will complete a deal to buy risk-adjusted funds house Levitas Investment Management "imminently" after reporting another jump in discretionary assets under management.

In a trading update, the AIM-listed group said the takeover of Levitas - initially announced late last year - would complete shortly. "During the year we acquired an option to buy Levitas Investment Management Services Limited, which expands our range of risk-adjusted funds and adds further exposure to the pensions market, including auto enrolment," it said. "We expect to exercise the option to acquire Levitas imminently." The takeover is expected to boost AUM at Brooks, but the company has already seen significant growth this year, having taken over Jersey based wealth manager DPZ...

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