The transfer to Smith and Williamson Investment Management (SWIM) comes amid Walker Crips’ growing focus on integrated wealth management, following the sale of its fund management side in 2012.
The board of Walker Crips said the fund was being transferred to ensure it was a run by a firm with “the requisite resource, scale and track record to continue serving the fund’s investors well”.
Once the deal is complet the fund will be renamed TB Riding House Street Fixed Interest Fund.
It will add to SWIM’s £1.3bn existing funds business.
Ed Rosengarten, partner and head of funds at Smith & Williamson, said: “Whilst investment-led organic growth remains the cornerstone of our strategy, inorganic acquisitions are an important and complementary element of our plans.
“This deal highlights that we have the resources and commitment to be an active and willing consolidator.”
The transfer has been approved by the FCA is expected to be completed on 21 March this year.
