Stonehage Fleming acquires investment management activities of cavendish asset management

23 April 2020

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Stonehage Fleming acquires investment management activities of cavendish asset management.

 

23 April 2020

Stonehage Fleming (“Stonehage Fleming or “the Group”), the leading independently owned international Family Office, today announces that it has agreed to acquire the investment management activities of Cavendish Asset Management (“Cavendish”), a London based firm established initially to manage the Lewis family’s assets that expanded to look after institutional and professional clients including a number of ultra-high-net-worth individuals (UHNWI) and families.

As part of the acquisition, Stonehage Fleming Investment Management (“SFIM”) will take over the management of all client portfolios and Cavendish’s range of four OEIC funds – the Cavendish International Fund, Opportunities Fund, AIM Fund, and Balanced Income Fund. The funds will be rebranded under Stonehage Fleming and will sit alongside its existing range of collective vehicles.

Four members of the Cavendish senior fund management team will transfer to Stonehage Fleming and continue to manage these funds. All Cavendish clients and assets, representing circa £1 billion, are expected to transfer to SFIM’s management on completion of the transaction, likely to be 1st August.

Chris Merry, Stonehage Fleming Group CEO commented: “Notwithstanding the extraordinary environment, this is an important and exciting time for Stonehage Fleming; we have the scale, the range of services and practical wisdom developed over many years to be the partner of choice for wealthy families with complex needs. We have worked hard to build a relationship with Cavendish and its clients over many months, and are very much looking forward to their joining us at Stonehage Fleming”.