thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Tue 21st Oct 2014  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
Brooks Macdonald Group completes acquisition of Levitas IM
01/08/2014 , News Team

Brooks Macdonald Group has acquired the entire issued share capital of Levitas Investment Management.
 
The acquisition expands the group's range of risk-adjusted funds and adds further exposure to the pensions market, including auto enrolment. The agreement was made back in December 2013 (see thewealthnet 20/12/2013), whereby Brooks Macdonald revealed it would acquire Levitas IM for a maximum of £24 million.
 
The successful completion of the acquisition of Levitas comes after the group’s positive year results. In the group’s trading update (see thewealthnet 24/07/2014), Chris Macdonald, chief executive of Brooks Macdonald, said: “We have continued to see strong growth in our funds under management during the year, which are up 28 percent on last year and have now reached £6.55 billion. Progress across the group has also been highlighted by selective acquisitions to improve the offering of our funds division, as well as our expanding international presence.
 
"Whilst we continue to invest heavily for future growth, particularly in systems development, and adapt to the changing regulatory landscape, we look forward to making further progress in the new financial year."

Levitas is the sponsor of two funds known as TM Levitas A and TM Levitas B. Brooks Macdonald Asset Management Ltd (BMAM) is the investment adviser to the funds. The funds were launched in July 2012 and aggregate assets under management have increased to £60.52 million as at 30 November 2013.

 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 39,127 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved