Walter Scott pays price for Mellon conflict

From: Scotland on Sunday | Date: August 6, 2006| Author: | Copyright information

WALTER Scott & Partners, the boutique investment house, is expected to lose one of its American funds following its takeover by US giant Mellon earlier this year.

Illinois State Board of Investment says it is reviewing Walter Scott's position on its international large-cap equities fund because Mellon will end up managing 60 per cent of its business.

The conflict has arisen because another Mellon-owned company, Boston Asset Management, is already managing a large chunk of the fund.

William Atwood, executive director of the GBP 6bn fund, says the Charlotte Square outfit could be replaced by ...

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