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Sanlam completes £1.2bn Smith & Williamson fund range takeover

Sanlam completes £1.2bn Smith & Williamson fund range takeover
Funds to be renamed over the coming weeks
Tom Carroll, head of asset management at Sanlam Investments
Sanlam Investments has finished taking over eight Smith & Williamson Investment Management funds, including the £629m Artificial Intelligence strategy.
First announced in early January 2021, the deal sees eight funds officially transfer to Sanlam Investments, adding £1.2bn in assets under management to the business. All of the funds moving to Sanlam Investments.
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Tesla's shares fall as it makes debut on Wall Street's S&P 500

Tesla shares fell yesterday as it made its debut on Wall Street s S&P 500.
The blue-chip index measures the stock market performance of 500 of the largest public companies in the United States.
The electric car maker – which is run by billionaire Elon Musk (pictured below) – is the biggest firm to join the S&P and its shares gained 60 per cent in value after the change was announced last month. But yesterday they dropped 6.5 per cent to $650 each.
Some analysts suggested this was because a rush by tracker funds to snap up the stock before yesterday had inflated its value.
Nevertheless, Tesla s admission to the S&P comes after huge growth in its shares, which are up by more than 600 per cent this year. ....

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