Marlborough Fund Managers has confirmed it will acquire BNP Paribas' ACD business in the UK in a deal that will see it take on £800m of assets.
Earlier this week, Investment Week revealed UFC Fund Management, Marlborough Fund Managers' parent company, was poised to buy Investment Fund Services Limited (IFSL) from the French bank. Widely known for its fund range, Marlborough also has an authorised corporate director (ACD) business. It currently acts as ACD for a number of funds in the UK, including Slater Investments. Currently, Marlborough has assets under management of £1.7bn, of which £1.35bn is in Marlborough's own fund range and £350m is in hosted funds. The deal with IFSL will effectively triple the group's ACD bus...
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