Crux Asset Management, the investment boutique set up by former Henderson fund manager Richard Pease, has acquired Oriel Asset Management's range of funds and employees from City Financial, boosting Crux's AUM by £90m.
Oriel's global, European and UK funds will be transferred and rebranded under Crux by the end of January 2017, subject to regulatory approvals, while fund managers Patrick Barton, Jamie Ward and Richard Scrope will join Crux's fund management team. The £12.2m CFIC Oriel European fund, run by Scrope, will become the CFIC Crux European fund, and the £25m CFIC Oriel Global fund, run by the same manager, will be renamed CFIC Crux Global fund. The group's £52.4m CFIC Oriel UK fund, managed by Ward and Barton, will become the CFIC Crux UK fund. The investment strategy on the funds will r...
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