15 Feb 2022 16:51
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
LEI: 2138005C7REHURGWHW31
For immediate release
15 February 2022
River and Mercantile Group PLC(the "Company")
The Company announces that it has received notice from a client of its equities asset management business of the client's intention to redeem approximately £927 million of assets managed by the Company across several global equity strategies. The assets to be redeemed represent annualised revenue to the Company of approximately £2.8 million.
Group Chief Executive, Alex Hoctor-Duncan commented:
"We are an organization focused on moving forward, delivering high quality active equities and infrastructure fund management to our clients. Losing a client is disappointing, but we are gearing up for several fund launches and will welcome Matt Hudson to run our UK income fund at the end of this month. The motivation of the team is apparent, especially now that we are a specialist equities and real assets focused business post the Solutions sale."
The person responsible for arranging for the release of this announcement on behalf of the Company is Sally Buckmaster, the Company Secretary.
Enquiries:
River and Mercantile Group PLC +44 (0)20 3327 5100
Montfort Communications
Gay Collins +44 (0)7798 626282
Nick Bastin +44 (0)7931 500066
riverandmercantile@montfort.london