Psigma Investment Management (PIM) has announced the acquisition of AXA Framlington’s private client business.
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PIM, which forms part of Punter Southall Group, has £1.5 billion of assets under management (AUM) and said that the transaction represents an important milestone in its plan for growth.
Subject to regulatory approval, PIM has agreed to acquire the private client business, previously known as AXA Framlington Portfolio Management, a specialist division within the UK equity team at AXA Framlington.
The private client business is currently responsible for approximately £380 million of AUM. The three portfolio managers, Rupert Hunter, Michael Firth and Jon Gould, together with their six support staff will all join PIM.
John Howard-Smith, CEO of PIM, said: "It is our strategic ambition to become one of the UK’s leading private client investment managers and this acquisition takes us one step closer to our goal. Rupert, Michael and Jon bring a combined experience of over 50 years and this will be highly valuable to PIM as we continue to build on our ambitious growth strategy.
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By GlobalData"We remain client focused with excellent service and performance as the bedrock of our offering, as we have done for the past decade. Most importantly these cultural values, combined with our bespoke approach are part of our DNA, the very same founding principles we share with the new team," added Howard-Smith.
