AIM-listed Merchant House Group, which includes an absolute return UCITS platform, is reviewing possible acquisition opportunities in stockbroking and asset management, according to executive chairman James Holmes.
In its group results for 2010 announced to the market last week, Merchant House also announced that the Russian Phoenix UCITS Fund had been approved by the Central Bank of Ireland at the end of last year. The fund will go onto the Merchant Capital platform which is part of the groups asset management division.
The statement adds: A second fund is being prepared for submission and three more are in advanced discussion. If each fund is approved and launched with the expected seed capital, there will be eight funds [on the platform] managing in excess of $200 million between them.
George Cadbury: Merchant Capital...