Principal expands

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 acquisitio...