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

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...