by Susan Edmunds
The investment branch of TOWER was sold to Fisher Funds, in a $79 million deal that settled at the beginning of the month.
TOWER investments chief executive Sam Stubbs had been placed on gardening leave and today told Good Returns he was not able to make any comment. “I’m still under the employ of Fisher Funds for the next six months.”
Carmel Fisher, managing director of Fisher Funds earlier said at the time of the deal being announced that the merger was an opportunity to achieve economies of scale that could be passed on to clients.
She said duplication would be eliminated.
Fisher Funds has its own asset management team.
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