Fleming Family & Partners (FFP) has bought Sagitta Asset Management, taking its total assets under m...
Fleming Family & Partners (FFP) has bought Sagitta Asset Management, taking its total assets under management to £3.6bn. All of Sagitta's existing funds and mandates will now operate under the FFP banner.
Gavin Rochussen, FFP's chief executive officer, said: "Over time we will look to see where the synergies are at each of the individual funds and take the best of both approaches.
"Ten of Sagitta's core investment team will move to FFP, including Bob Michaelson, its chief investment officer, who will assume the newly created role of group investment director. Others joining him include John Dwyer, Piers Metcalfe and Andy Tolhurst."
According to Rochussen, Sagitta's philosophy and approach are complementary to that of FFP, with both employing open architecture.
This follows Sagitta's conversion over the past two years from running a series of single-manager funds.
He expects Sagitta's slightly differing investor profile to help FFP diversify its client base and acquire critical mass, while also expanding FFP's research capacity.
FFP purchases Sagitta.
Sagitta CIO Bob Michaelson moves to FFP.
FFP hopes Sagitta will improve its research capacity.
Latest news and analysis
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.