The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Amvescap boost from Perpetual motion

For a horse-racing enthusiast like Martyn Arbib, the sale of Perpetual, his pride and joy, will prompt mixed feelings.


The thoroughbred fund management house, of which he is chairman and founder, has fetched him some £450 million thanks to a £1.1 billion bid by US group Amvescap.


However, Arbib may stop to wonder what sort of price Perpetual might have commanded had he managed to sell it when it was at the top of its game two years ago.


The sale has valued Perpetual shares at £35.80 but sceptics say Arbib was looking for more in the region of £45.


Speculation has surrounded Perpetual, and its possible sale, since even further back than that. In the rapidly consolidating fund management world which has seen a spate of takeovers in the past three years, Perpetual, quirkily set outside London's Financial centre in leafy, riparian Henley-on-Thames, was always a plum target.


Now it follows Mercury, Newton and Gartmore into the hands of more powerful US groups. As a result of the deal Perpetual will now sit alongside Invesco, another UK fund manager, within Amvescap. The brands are set to co-exist, for the time being at least.






You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree