Financial services group Schroders has announced its subsidiary, Schroder US Holdings, has completed the acquisition of 100 per cent of the share capital of STW Fixed Income Management, a speciality fixed income manager.
STW, which provides custom solutions to meet the needs of a diverse client base, had assets under management of $11.6bn at December 31st.
Speaking back in December when the acquisition was first announced, Michael Dobson, Chief Executive of Schroders, said STW's long-term investment strategies and strong performance track record would be a valuable addition to the company.
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"This acquisition increases our assets under management in US fixed income by 50% to $35bn, broadens our product and service platform in fixed income and extends our institutional client base in the US," he said in a statement.
Schroders share price climbed 0.9% to 2,127p by 15:33.
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