Sanlam Investments and Pensions  

Sanlam to take over £1.2bn Smith & Williamson fund range

Sanlam to take over £1.2bn Smith & Williamson fund range

Sanlam Investments is to take over the management responsibility for a raft of portfolios currently run by Smith & Williamson Investment Management.

The firms announced today (January 4) they had agreed a deal which will see eight funds transfer to Sanlam, adding £1.2bn in assets under management, six fund managers and four other staff members to the business.

The arrangement will see the Smith & Williamson Artificial Intelligence, Enterprise, European Equity, North American Equity, UK Equity Growth funds and three fixed income portfolios transfer to Sanlam.

Sanlam said the move, which is expected to complete by the end of January, was the latest in the firm’s strategy to develop its capability across the core asset classes.

Jonathan Polin, group CEO of Sanlam UK, said: “2020 was a significant year of investment and growth at Sanlam Investments and we are delighted to be taking on eight funds currently managed by Smith & Williamson Investment Management. 

“Our asset management arm is a core component of our UK business and today’s announcement reflects our commitment to building a truly comprehensive range of funds and investment solutions for our clients.”

Mr Polin said assuming responsibility of the funds enabled Sanlam to offer a core suite of portfolios alongside a specialised offering, enabling clients to participate in the “big investment themes of the next decade and beyond”.

He added: “Taken together, we believe this is a compelling proposition and will help us to deliver our significant ambitions in the market.”

Later in Q1, Sanlam will also take on the investment management responsibilities of the Smith & Williamson Global Gold and Resources fund, managed by AGF in Toronto. AGF will continue as a sub delegate investment manager.

Sanlam will work closely with the Tilney Smith & Williamson group to ensure ongoing access to the fund managers.

It follows Sanlam’s acquisition of Tideway’s three open-ended funds and four-strong fixed income team in April and its poaching of Mark Whitehead and his global equity income team from Martin Currie in July.

Hugo Smith, managing director at Smith & Williamson Investment Management, said the deal provided an “excellent opportunity” for its fund managers to work within a business with a “well-known pooled funds brand”, strong distribution and plans for further growth.

He added: “I would like to take this opportunity to thank the fund managers and other colleagues within the funds team for all that they have contributed to Smith & Williamson Investment Management over the years.”  

imogen.tew@ft.com

What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know