On completion of the transaction, topic to regulatory approval, the agency will purchase all of the working actions of Rootstock, together with the Rootstock SCI Worldwide Versatile fund and the Rootstock International Fairness UCITS fund.
In line with the UK-based group, this acquisition will convey extra scale in belongings underneath administration, additional funding experience and strengthen its place within the South African home market, the agency stated.
The Rootstock International Fairness UCITS fund will probably be merged with Stonehage Fleming’s flagship International Finest Concepts Fairness fund, managed by Gerrit Smit, head of Stonehage Fleming world fairness administration.
Stonehage Fleming launches initiative celebrating businesswomen
Rootstock SCI Worldwide Versatile fund will probably be renamed the Stonehage Fleming SCI Worldwide Versatile fund. It would proceed to be managed by Johan Barkhuysen, reporting to Smit in London. Rootstock founder Thys du Toit will be part of Stonehage Fleming as a associate.
Chris Merry, Stonehage Fleming group CEO, stated: “We now have identified Rootstock for a few years and are assured of the cultural match between the companies, already sharing plenty of shoppers.”
“This transaction continues our technique of supplementing natural development via choose acquisitions and we’ll proceed to search for corporations which share Stonehage Fleming’s values and tradition.”
Tatton AM completes £7m acquisition of 8AM International
Thys du Toit, founding father of Rootstock Funding Administration, added: “Stonehage Fleming is a agency whose funding acumen Rootstock holds in excessive regard and lots of of Rootstock’s shoppers already know and worth Stonehage Fleming and Gerrit Smit, a revered business chief.”
“This new chapter inside the Stonehage Fleming household presents an thrilling alternative for us all.”
