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United Kingdom : Parmenion's AUM exceeds 2B since acquisition.

A general called Parmenion ably aided, the young Macedonian king, Alexander the Great. But in spite of years of exemplary service, Parmenion was put to death after being implicated in a plot against the king.

Over 2,300 years have passed and the general continues to live on in the name of a Bristol-based online fund portfolio company.

Instead of going to battle on the plains of Central Asia, it is entering the hightech robo-advisory field that is making the conventional fund management ecosystem sit up and take notice.

Robo-advisers like Parmenion have drawn attention in the last few years. Their numbers have increased and they are showing asset managers how computers can comb through mounds of data and come up with suggestions for investors.

Parmenion added its then 1.5 billion ($2.9 billion) in AUM to Aberdeen's total of some 290 billion, when its take over by Aberdeen was completed in January.

Since then, Parmenion's AUM has grown to over 2 billion, outpacing its holding company, which has been struggling with net outflows recently.

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Publication:Mena Report
Geographic Code:4EUUK
Date:May 24, 2016
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