Blue Sky sold to US bank

Blue Sky Asset Management has agreed to a takeover by US investment bank Incapital, in a move to expand its structured product offering.

The deal will see Blue Sky merged into the structured product specialist's London-based subsidiary, Incapital Europe. All of Blue Sky's previous book of plans will be transferred over to Incapital and will have ongoing service to maturity and beyond. Investors' contracts are unaffected by the change and Incapital will take on the responsibility to provide services to IFAs. Advisers and investors will also be able to deal with familiar Blue Sky staff and systems. Any Plan currently in ‘open offer' will continue as a Blue Sky plan, until shortly after their strike dates, when the res...