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Jacob Rees-Mogg’s Somerset Capital Management to close

Somerset in advanced talks to transfer top performing funds after SJP withdrawal sends assets tumbling

Jacob Rees-Mogg's fund house managed $10bn at its peak
Jacob Rees-Mogg's fund house managed $10bn at its peak Photo: Getty Images

Somerset Capital Management, the emerging markets boutique co-founded by Sir Jacob Rees-Mogg, is to wind down after suffering large redemptions.

The firm said it is in advanced talks with its authorised corporate director to transfer its top-performing funds to a new investment adviser.

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