Cantor Fitzgerald Europe: River & Mercantile’s emerging market deal ‘adds 10% to assets under management’
Press Release | Cantor Fitzgerald
The acquisition of $360m emerging markets assets from Credit Suisse is a signal that River & Mercantile is making a concerted effort to expand its asset management business. Keith Baird, director of financial services research at Cantor Fitzgerald Europe, says this acquisition is a positive move, due to emerging markets being an expanding asset class. The $360m of assets will add another 10% to River and Mercantile’s assets under management.
RIV LN (325p, TP 304p), Market Cap: £265m
As it is more likely that River & Mercantile will be able to grow its emerging markets assets, given the nature of the asset class, Keith Baird sees this as offsetting its dependency on developed markets.