Stonehage Fleming acquires Rootstock Investment Management

One fund to merge

Multi-family office Stonehage Fleming has agreed to acquire the business and assets of Rootstock Investment Management, an investment firm based in South Africa.

On completion of the transaction, subject to regulatory approval, the firm will acquire all the operating activities of Rootstock, including the Rootstock SCI Worldwide Flexible fund and the Rootstock Global Equity UCITS fund.  According to the UK-based group, this acquisition will bring additional scale in assets under management, further investment expertise and strengthen its position in the South African domestic market, the firm said. The Rootstock Global Equity UCITS fund will be merged with Stonehage Fleming's flagship Global Best Ideas Equity fund, managed by Gerrit Smit, head...