Fund management and private client investment firm Whitman Asset Management has acquired Kestrel Partners’ Aim inheritance tax portfolio service (Kits) for an undisclosed sum.
After completion, Kits will join Whitman’s existing Aim IHT portfolio management business.
Kestrel and Whitman are working in close partnership to enable clients to transfer their Aim IHT portfolio management agreements, and the majority of Kits clients have already confirmed they will transfer to Whitman.
The Whitman Smaller Companies team led by Christopher Pease has 15 years’ experience managing Aim IHT portfolios for private clients.
The Whitman Aim Inheritance Tax Portfolio Service is a discretionary managed portfolio of Aim-listed companies held in segregated accounts, selected and expected to receive 100% relief from IHT after being held for just two years, provided they are held at the time of death.
Araminta Le Flufy, chief executive of Whitman Asset Management, said: “We are delighted that so many of the Kits clients have decided to become clients of Whitman. We see Aim IHT portfolio investing as a prudent tax planning tool, and most importantly giving investors excellent exposure to the smaller company asset class, which we believe has the potential for extremely attractive returns over the long term.
“We are steadily expanding our private client business and continue to invest in new people that share our vision of an investment-led service, using our size and experience as a distinct advantage for the benefit of our clients.”
