Teathers to sell fund unit to Prudential

Teather & Greenwood is to sell its fund management and investment unit to Prudential-Bache, the global private client fund management and financial services company. Prudential-Bache is to pay in the region of £5m for the unit, which was only recently launched and has around £1.4bn in assets under management and over 9,000 clients both in funds and in private client portfolios. It has four funds, UK Equity Growth, UK Equity Income, UK Smaller Companies the recently launched Ethical Fund. The best known of the funds is the UK Smaller Companies fund managed by ex-Perpetual manager John...