Update: New Sanlam managers named as firm assumes responsibility of S&W funds

Boosts AUM by £1.2bn

Sanlam Investments is to assume responsibility for eight Smith & Williamson managed funds, boosting the firm's assets under management (AUM) by £1.2bn and adding six fund managers to the team.

Co-managers of the S&W Artificial Intelligence and S&W North American Equity funds Chris Ford and Tim Day will move with their funds to Sanlam, alongside S&W Enterprise co-managers and UK equity specialists Mark Boucher and Mark Swain, with European specialist Giles Worthington and fixed income manager Thomas Wells rounding out the six managers. Sanlam has also hired a further four team members, increasing the total headcount by ten individuals. The deal will see Sanlam take on several equity, fixed income and thematic funds, subject to approval from both boards of S&W Fund Administra...