Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Walker Crips sells bond fund to Smith & Williamson

Walker Crips sells bond fund to Smith & Williamson

Walker Crips has sold its corporate bond fund to Smith & Williamson.

As part of an effort to focus on wealth management, the company is selling the TB Walker Crips Corporate Bond fund to Smith & Williamson Investment Management.

The transfer is expected to complete on 21 March. Following the transaction, the fund will be named TB Riding House Street Fixed Interest fund.

The move comes five years after Walker Crips sold its asset management arm to Liontrust. In March 2012, the company had announced that Liontrust would buy Walker Crips Asset Management for £12.35 million

In the announcement today, Walker Crips said: ‘As part of the Company's continued focus on integrated wealth management since the sale of its fund management related activities in 2012, the Board of Walker Crips has concluded that management of this Fund is no longer a core activity and is therefore being transferred to a fund manager which has the requisite resource, scale and track record to continue serving the Fund's investors well.’

Smith & Williamson’s investment management arm has £1.3 billion in assets across 17 strategies. The funds business is headed up by Ed Rosengarten (pictured). 

Rosengarten said: 'Whilst investment-led organic growth remains the cornerstone of our strategy, inorganic acquisitions are an important and complementary element of our plans.

'This deal highlights that we have the resources and commitment to be an active and willing consolidator.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter