Parmenion's platform could see £650m setback after Caerus buyout

Intrinsic plans to acquire Caerus

Tom Ellis
clock • 2 min read

Parmenion's platform could lose more than one-fifth of its £3bn assets under management following the takeover of the Caerus network by Intrinsic, Professional Adviser understands.

The losses would be the result of a break-up of Parmenion's discretionary fund management (DFM) and custodian services agreement with Caerus Portfolio Management, the investment management arm of the Caerus group, following the sale. A Caerus group strategic report, which outlined the network's position at the end of 2015, said it held a total of £651m in its discretionary fund management portfolios, which Parmenion provides custodial services for on its platform.  Those assets had increased 67% throughout the year alone. A source, who does not want to be named, told Professional Advi...

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