The company revealed that it had acquired a 49 per cent stake in award-winning fund management firm Amati Global Investors Limited. In a statement, Mattioli Woods also confirmed it had secured the option to buy the remaining 51 per cent share-holding in Amati over the next two years.
Edinburgh-based Amati was founded in 2010 and focuses on small and mid-sized companies. It currently manages over £120m of funds.
Ian Mattioli MBE, chief executive officer of Mattioli Woods, said: “Our investment in Amati represents an exciting extension to our existing asset management business and is another important step forward as we continue to expand our operations.
“Amati is a great fit culturally and strategically. There are few UK fund managers with such a long and stable heritage, utilising the combined experience of an investment team with over 50 years’ knowledge of UK smaller companies.
“The team’s performance has been recognised in a number of awards and ratings. I believe this investment will significantly enhance the group’s fund management capabilities.”
Dr Paul Jourdan, Amati’s chief executive officer – who will remain with the company – said:
“As this transaction has evolved over the past year we have realised not only that our businesses are highly complementary, but that we share similar values and business culture.
“We are very much looking forward to working closely with them, and believe that as a result we will be able to take our specialist investment products to a much wider audience.”
The announcement came on the day Mattioli Woods – also specialists in employee benefits – unveiled its interim results for the six months ended November 30, 2016. They showed revenues up more than 22 per cent at £24.3 million and total client assets of £7.56 billion.
