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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
