Vontobel Asset Management has completed the acquisition of a 60 per cent stake in TwentyFour Asset Management, which was originally announced on 25 March 2015.
TwentyFour Asset Management is a London based independent fixed income specialist with a diverse client base in the UK, spanning wholesale as well as institutional clients.
Vontobel's majority stake in TwentyFour Asset Management underscores its positioning as an active asset manager, extends its fixed income product offering and strengthens Vontobel Asset Management’s presence in the UK market. The acquisition creates an excellent opportunity to accelerate the international growth of Vontobel’s Asset Management business since the UK is one of the most important global asset management markets.
The transaction will be financed out of Vontobel’s own funds and is expected to be accretive for Vontobel in the first year with no significant integration costs. Vontobel will continue to comfortably exceed its own target capital ratio of 16 percent and remains in a position to consider additional external growth opportunities.