As you will be aware, in the spring of 2015 the partners of TwentyFour Asset Management sold a 60% stake in our business to Vontobel Asset Management to help bring our products to a global buyer base.
The intention at the time was for Vontobel to acquire the remaining 40% stake in two tranches in 2021 and 2023. It has been agreed to bring this transaction forward and complete the entire sale in a single transfer on 30 June 2021.
TwentyFour Asset Management will remain operationally independent and will continue to service its clients from offices in London and New York. The senior management team and portfolio management teams remain unchanged, and long term incentive plans for key people are in place. Given the success of the relationship it was agreed by both parties that by bringing the transaction forward it gives clients clarity and ensures focus remains on delivering outstanding performance and client service for the long term.
As a team we look forward to the continued success of our partnership with Vontobel and would take this opportunity to underline our commitment to our future relationships with all our clients.
CEO, TwentyFour Asset Management