(Sharecast News) - River Global said on Wednesday that the Financial Conduct Authority had approved the change in control for River Global Holdings, clearing the way for its proposed acquisition to complete on 30 June.
The AIM-traded company said assets under management stood at £3.44bn as of 19 June, up from £3.10bn at the end of March.

Excluding assets linked to European Opportunities Trust, where the board has announced a reconstruction, as well as mandates where clients have given notice to terminate or funds that are closing, adjusted AUM was £2.96bn.

On that basis, River Global recorded net inflows of £39m in the quarter to 19 June.

At 1501 BST, shares in River Global were up 23.25% at 40.9p.

Reporting by Josh White for Sharecast.com.

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