Stonehage Fleming to acquire Cavendish Asset Management

Acquiring Cavendish's investment activities

Stonehage Fleming will acquire the investment activities of Cavendish Asset Management and will take over the running of its range of four OEIC funds.

Family office Stonehage said that 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. Stonehage Fleming IM adds sustainable multi-asset mandate The managers of the four funds, including Paul Mumford, will join Stonehage and continue managing the mandates...