Principal Investment Holdings is looking to expand its fixed interest capabilities following its a...
Principal Investment Holdings is looking to expand its fixed interest capabilities following its acquisition of asset management company Burrage and Co.
Burrage is a London based firm that manages £70m of private client portfolio assets, mainly UK equity orientated.
Principal is interested in expanding its fixed-interest investments due to the boost Burrage's expertise in that area will give the group. Burrage manages the fixed interest assets of several Lloyd's syndicates run by its former parent company Kiln plc.
Anne Gilbert, Principal's managing director, said: "This acquisition takes Principal another step forward, adding further depth to our fund management team and enhancing our service to clients and IFAs.
"Like Principal, the Burrage team are committed to delivering a high quality personal portfolio management service to small and medium-sized clients."
Gilbert added that Principal is also interested in Burrage's unit trust and offshore investments. It is looking at developing these assets to broaden its services.
Burrage's three executive directors, Ken Burrage, Susan Bently and James Carleton, will be joining Principal's fund management team.
Ken Burrage said: "As well as being like-minded in its approach to client service, Principal has a fine reputation for its investment skills and will provide us with a broader span of research capabilities and general support."
Created by 150 individuals
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Ahead of 12 December general election
Demerger expected to complete in Q1 2020
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