Punter Southall takes full control of PSigma AM

Punter Southall has taken full control of PSigma Asset Management, taking over a 50% stake from the boutique's founders.

Jonathan Punter, the group's chief executive, has increased his stake in the firm by 50% to take full control, buying out founders Bill Mott and Ian Chimes. Following the deal, Mott and Chimes become significant shareholders in Punter Southall, the group said. PSigma was formed in February 2007 as a joint venture, with 50% owned by Mott and Chimes and 50% owned by Punter Southall. There will be no changes to the investment teams and managers as a result of the change in ownership. Mott, who heads up the £350m PSigma Income fund, said: "It will be business as usual for us with...