Schroders to buy US firm

 
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FTSE 100-listed investment manager Schroders has agreed to buy STW, a fixed income manager in the United States, for an undisclosed sum.

STW manages around $11.9bn on behalf of institutional clients, with a focus on investment-grade fixed income assets.

The deal boosts Schroders’ fixed income assets under management in the States by 50 per cent. It is due to complete in early 2013.