Premier acquires 10 former CS funds; Mott to act as adviser

Premier Asset Management has bought the management contracts of 10 UK Oeic funds acquired by Aberdeen in its recent takeover of Credit Suisse Asset Management.

The transfer of the contracts, worth £850m, will boost the privately-owned firm’s assets under management to around £2.3bn. Under a new strategic alliance between Premier and PSigma Asset Management, former Credit Suisse manager Bill Mott will act as investment adviser on the Alpha Growth, Alpha Income, Income and Monthly Income funds. Graham Ashby, who moved to Aberdeen with the CS income range, will relinquish control of the funds at the end of the month. The mandate for the Global Income Plus fund, previously run by Ashby at Credit Suisse, will remain with Aberdeen and has alrea...