New Star is understood to be in talks with the stockbroking firm Seymour Pierce over the possible ac...
New Star is understood to be in talks with the stockbroking firm Seymour Pierce over the possible acquisition of the latter's £3.1bn fund management business.
This follows an announcement by Seymour Pierce that it had abandoned plans to find a buyer for the whole company.
Presently, the firm's fund management services are provided by Pavilion Asset Management, which is a part of the Seymour Pierce Group.
Its £3.1bn of funds under management are spread across a combination of unit-linked tax-exempt funds, pension funds and unit trusts. The money is managed across all major equity and fixed income markets. In addition to pooled funds it also offers segregated structures.
For institutional investors Pavilion's range includes global balanced expertise as well as a socially responsible investment capability.
New Star is believed to have been in discussions with Seymour Pierce for several months.
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