Litigation settlement drives AssetCo's M&A strategy

Chaired by Martin Gilbert

clock • 1 min read

AssetCo is hunting for more acquisitions to bolster its asset and wealth management strategy after collecting more than £30m from the conclusion of the Grant Thornton litigation.

In October 2020, Grant Thornton informed AssetCo that it would not appeal to the Supreme Court in relation to being held liable for negligence for not exposing a fraud at AssetCo. This crystalised the £30.5 million award from the Court of Appeal ruling in January 2019. According to the company's six-month income statement to the end of March 2021, the company has already acquired a 29.8% stake in an investor group consisting of funds managed by Toscafund Asset Management, and five million shares in River and Mercantile Group. In May, AssetCo also announced it had made a conditional ac...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Investment

Industry Voice: Active vs passive investing - how the debate stacks up

Industry Voice: Active vs passive investing - how the debate stacks up

The active vs passive investing debate shows no sign of abating and can sometimes seem one-sided. But is there a case for both in your clients’ portfolios and, if so, how do you strike the appropriate balance?

Alex Funk, CIO, Schroder Investment Solutions
clock 25 November 2022 • 5 min read
Advisers rate MPS service and support over suitability

Advisers rate MPS service and support over suitability

‘Additional pressure heaped on advisers this year by global events and market shocks’

Ayesha Venkataraman
clock 25 November 2022 • 2 min read

Industry Voice: Uncovering Opportunities for Investors Around the Globe

PIMCO Income Strategy

clock 24 November 2022 • 1 min read