Stonehage Fleming, the international multi-family office, has agreed to buy the business and assets of Rootstock Investment Management, which is based in South Africa. Subject to regulatory approval, the deal encompasses Rootstock SCI Worldwide Flexible Fund and the Rootstock Global Equity UCITS Fund. The intention is to merge the UCITS fund with Stonehage Fleming's Global Best Ideas Equity fund, managed by Gerrit Smit, head of Stonehage Fleming Global Equity Management. The Rootstock fund will be renamed the Stonehage Fleming SCI Worldwide Flexible Fund, and continue to be managed...
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