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Merchant House wants to grow asset management division

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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 group’s asset management division.

The statement adds: “A second fund is being prepared for submission and three more are in