Martin Gilbert’s AssetCo is in talks to take on the funds managed by Somerset Capital Management.
The boutique, co-founded by former cabinet minister Jacob Rees-Mogg, revealed last week it had started winding down, after its biggest client St James's Place severed ties from the firm, leading assets under management to drop by around two thirds. Investment Week understands AssetCo is among a number of companies interested in taking over the business, especially two of its funds. The potential move was first reported by Sky News. Somerset Capital Management funds seek new home as firm set to close following SJP redemptions It is not clear who the other interested parties are and...
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