Syndicate Asset Management has offloaded its institutional fixed income asset arm for £2.1m as the group continues to shift its focus on to wealth management.
The sale of EPIC Investment Partners and its trading subsidiary EPIC Asset Management to Hume Capital follows a strategic review of the business.
Syndicate intends to focus 'exclusively' on wealth management via its Ashcourt Rowan brand and the availability of its Savoy Investment Management service.
Mark Cheshire, group CEO of Syndicate Asset Management, said: "The Board is delighted to have concluded the sale of EPIC in such a timely manner following the Group's strategic review.
"Our focus is now squarely on the wealth management sector, in particular expanding the presence of our Ashcourt Rowan brand and the availability of our Savoy service."
Consistency and compliance vs. slower reaction time
Search for replacement to begin imminently
60+ £300bn ISA savings
Has technology moved on?
Total funds on list rise from 26 to 58