MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, November 3, 2005 Grant Thornton Sells U.K. Fund Business The increasing costs of running money pushed Grant Thornton to sell its United Kingdom-based mutual fund business to the Principal Group. The sale involved $100 million of assets under management. The accounting firm sold Grant Thornton Asset Management because it had determined that competing against larger asset managers would require a significant increase in its level of investment. "After considering a number of options for the business, including further substantial investment, Grant Thornton has taken the strategic decision that a trade sale would offer the best prospects for the business and its clients. This decision has been taken at a time of ever greater consolidation in the industry," the company announced. Printed from: MFWire.com/story.asp?s=10778 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |