AssetCo completes acquisition of Saracen

Plans to expand fund range

AssetCo has completed the acquisition of Edinburgh-based Saracen Fund Managers for £2.75m and sets out plans to broaden the product range.

Peter McKellar, deputy chair and CEO of AssetCo, said: "The completion of the acquisition of Saracen Fund Managers is part of AssetCo's overall strategy of investing in, building and managing asset and wealth management businesses. Saracen is a small fund management firm with great potential." McKellar said the aim is to grow the business through marketing its current fund range and launching new products to "meet the evolving needs of investors". This acquisition follows AssetCo's successful purchase of 63% equity interest in ETF Rize Limited from J&E Davy Holdings, which took place ...