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Sanlam Investments to assume responsibility of 8 S&W funds

written by Bella Palmer
funds

Sanlam will also receive the S&W Enterprise fund primarily through the use of equities and contracts for differences

Sanlam Investments is to assume responsibility for eight Smith & Williamson managed funds, boosting the firm’s assets under management (AUM) by £1.2bn and adding six fund managers to the team.

The deal will see Sanlam take on several equity, fixed income and thematic funds, subject to approval from both boards of S&W Fund Administration and S&W Investment Management Ireland, and will bring the firm's total AUM to £7.3bn.

Almost half of the total AUM moving to Sanlam comes from the £584m S&W Artificial Intelligence fund, which will boost the company's specialist thematic offering.

Also part of the deal, which is expected to be completed by the end of January, are three equity funds - S&W North American Equity, S&W UK Equity Growth and S&W European Equity - and three fixed income funds - S&W Short-Dated Corporate Bond, S&W Fixed Interest and S&W Global Inflation Linked Bond.

Sanlam will also receive the S&W Enterprise fund, which aims to achieve positive returns on a rolling 12-month basis, primarily through the use of equities and contracts for differences, with a focus on the UK.

Later in Q1 2021, the firm will take on the investment management responsibilities of the S&W Global Gold and Resources fund, which will continue to be managed from Toronto by AGF as a sub delegate investment manager.

Six fund managers are set to join Sanlam as part of this deal, alongside a further four individuals.

Jonathan Polin, group CEO at Sanlam UK, said: Assuming responsibility for these new funds enables us to deliver a core suite of funds with strength and depth, as well as develop a specialised offering which will enable clients to participate in some of the big investment themes of the next decade and beyond. Taken together, we believe this is a compelling proposition and will help us to deliver our significant ambitions in the market.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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