Syndicate Asset Management, the UK-based asset manager holding firm, has acquired a 35 per cent interest in Combimeer, the Dutch financial services firm, for €758,000. It intends to acquire the remaining shares after January 2009. This investment, executed via its Ashcourt Holdings subsidiary, is part of Syndicate's strategy to develop its distribution into new geographical markets through experienced local partners. The shares are being acquired from a number of parties including Equity Pre-IPO Investments, an AIM-listed company one of whose directors Jonathan Freeman is also a director of Syndicate. Combimeer has about €40 million of funds under advice, part of which are already managed by Ashcourt Asset Management. In the year to 31 December 2006 Combimeer made an unaudited pre-tax profit of €173,361. Syndicate chief executive John Morton will join the board of Combimeer together with the existing directors Karel and Marjolijn Jagtenberg. Syndicate Asset Management is a holding company that aims to achieve long term capital growth by consolidating a diverse portfolio of growing, small-to-medium-sized asset management firms. It was floated on the AIM market at the end of September 2005 with approximately £2.5 billion of funds under management. Funds under management currently stand at about £5.5 billion as at March 2007.