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...
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