Two funds have been placed under the MontLake UCITS Platform umbrella highlighting increased consolidation in the sector.
The platform, which has launched a number of alternative UCITS funds, is now taking over the operations of Chicago-based Columbia Wanger Asset Management’s US and European small cap long-only funds during the next few weeks. The funds have combined assets under management of $80 million.
The transaction is an indication of increased consolidation in the asset management sector resulting in an increasing number of so-called orphaned UCITS funds, according to Richard Day, chief operating officer for London-based ML. Earlier this week, GAM