Frontier markets specialist RenAsset Management (formerly Renaissance Asset Managers) has applied to cancel its listing with the Financial Conduct Authority, but plans to continue to operate as an asset manager.
The firm has filed to be taken off the FCA register and has six months from the date of the filing within which to stop carrying out all FCA-regulated activity in the UK. Sources close to the situation have also told Investment Week all the firm's London-based staff have been placed under threat of redundancy. A spokesperson for the group confirmed plans to stop regulated activity in the UK, but stressed the group will continue to operate as an asset manager, with its funds listed in Dublin. She added no redundancies have been made in the UK at this time, although this situation co...
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