Guernsey Asset Manager Increases Market Share With Jersey Acquisition

Guernsey-based asset management group MitonOptimal International has expanded across the Channel Islands with the acquisition of Jersey-based Orchard Wealth Management.

The acquisition, which has already been approved by regulators, is the fifth in a series of takeovers that began in 2016, and is expected to be 'the last for at least a while', according to Shaun McDade, Managing Director of MitonOptimal's Guernsey office and head of the company's international portfolio management operations.

It gives MitonOptimal a presence in all three UK Crown Dependency territories for the first time.

The immediate impact for MitonOptimal is adding the £66m invested in the Orchard Wealth Fund to MitonOptimal Group AUM – MO International Ltd is its Guernsey-based holding company - lifting the total to approximately £880 million at current exchange rates.