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.
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
The best properties for sale for around £500,000
Properties for sale for around £500k – from a Grade II-listed former rectory in County Durham to an early 19th-century chateau in southwest France.
By Natasha Langan Published
-
M&S recovery has momentum: will it stick?
After years of decline, M&S seems to have turned a corner. But is this just a “dead cat bounce”?
By Dr Matthew Partridge Published