FINANCE NEWS: Rothschild's asset division considers retail arm sell-off

Rothschild Asset Management, which looks after £457 million of charitable funds, is considering selling its retail and institutional fund management operations.

The fund manager is intending to move its focus towards international private banking and wealth management - the activities for which the firm is best known.

The firm's board decided earlier this month that its retail and institutional funds business lacked sufficient scale to compete. It manages £13 billion of funds in total, which includes 49 charity portfolios. Subsequently, the board decided to carry out a review of the business which may result in the sale of the business or a merger with a larger group.

"We are examining various options ... which may include an alliance with a larger investment management group,

said Rothschild.

The review should be finalised before the end of this year.

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