Henderson Global Investors is expected to turn over its £3.3 billion ($5.2 billion) Henderson Liquid Assets fund to DB Advisors, said Mayura Hooper, spokeswoman for DB Advisors.
Ms. Hooper declined to comment on whether the assets were being sold to DB Advisors or how the firm would come to acquire them.
The Henderson money market fund’s board has approved the merger into a DB Advisors fund, and the deal awaits approval from Henderson fund shareholders and regulators; a vote will be taken in January, according to Ms. Hooper.
Henderson appointed DB Advisors as subadviser on the fund Oct. 12. If approved, the assets are expected to be merged into the Deutsche Managed Sterling fund by the end of February.
The deal fits with DB Advisors’ growth strategy in the U.K., Ms. Hooper said. The firm managed €94 billion ($124 billion) in money market assets as of Sept. 30.
Henderson spokesman James Acworth did not return calls by press time.
