Parmenion to retain identity after takeover

Aberdeen Asset Management has completed its takeover of Parmenion, comprising sister companies Parmenion Capital Partners and Self Directed Holdings.

Parmenion’s risk-rated multi-manager funds will continue to invest in funds of third-party asset managers. The firm will retain its own identity and remain located in Bristol, but will receive additional investment from Aberdeen to develop its service. Aberdeen hopes the acquisition will expand its distribution in the UK.

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