Noble Sells Off 'non-core' Fund Management Arm

摘要

Noble, the edinburgh-based boutique investment bank, has sold its property fund management arm to its managers.Alan Howie and Andy Speedie, who left Arlington Property Investors to join Noble Fund Managers in July 2005, have set up Keills in Glasgow to carry out the buyout.They are taking ￡80m of existing assets under management in four funds, most of which are in the Keills Property Trust - an opportunistic exempt property unit trust, which is 70% geared and focused on refurbished town centre offices.The investors in the fund are private investors - including Howie and Speedie - investing through SIPPs (self-invested personal pensions) and SSASs (small self-administered schemes), and tax-exemptinstitutions.'We see this as an opportunity to provide continuity to all existingclients who are looking to us to guide them through the current market turmoil,' said Howie.