Polen Capital takes over Somerset Capital Management's UK funds

Portfolio managers to move

clock • 1 min read

Polen Capital UK is set to take over the management of Somerset Capital Management's UK fund range, the latter has confirmed.

Somerset Capital, co-founded by Jacob Rees-Mogg and minister for investment Dominic Johnson, revealed earlier this month that it was set to close after losing two-thirds of its assets from its largest investor, St James's Place, severing ties. AssetCo eyes takeover of Somerset Capital Management funds Somerset went from managing $3.5bn in assets at the end of October to about $1bn, after SJP transitioned approximately £2bn away from the firm on 20 November. As part of the transition with Polen, a team of Somerset's portfolio managers, including Mark Williams, the  manager of the As...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

People close to BlackRock told Fox Business that savings from the layoffs will be used to expand into growth businesses such as technology investing and alternative investment products.

BlackRock plans to cut 3% of global workforce - reports

Entering a more ‘mature’ business phase

Valeria Martinez
clock 09 January 2024 • 1 min read
Jupiter CEO Matthew Beesley

Jupiter suffers higher than anticipated outflows of £2.2bn

Weaker than anticipated retail sentiment

Cristian Angeloni
clock 09 January 2024 • 2 min read
The interim dividend will be paid on 26 January.

Foresight increases dividend as funds under management stagnates

Interim dividend of 6.7 pence

James Baxter-Derrington
clock 09 January 2024 • 1 min read
Trustpilot