Schroders subsidiary completes acquisition of STW Fixed Income

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.

"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.

NR