Stonehage Fleming to acquire Cavendish Asset Management

Family office Stonehage said it would also take over all of Cavendish's client portfolios, including those run for institutional and professional clients as well as ultra-high net worth individuals and families, worth about £1bn. The £425.8m Cavendish International, £72.1m Cavendish Opportunities, £70.1m Cavendish AIM and £18.4m Cavendish Balanced Income funds will be rebranded under the Stonehage Fleming name. The managers of the four funds, including Paul Mumford, will join Stonehage and continue managing the mandates, while Cavendish CIO Julian Lewis will join Stonehage Fleming Inv...