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Somerset Capital: Ex-UK Minister’s Sudden Fund Closure Explained

Somerset Capital Management, the investment firm co-founded by Conservative politicians Jacob Rees-Mogg and Dominic Johnson, is set to close down after its largest client ended the partnership.

Jacob Rees-Mogg outside 10 Downing Street as Somerset Capital Management closes after client loss. PHOTO: Tayfun Salci/Shutterstock

The company, based in London, is in advanced discussions to transfer its UK funds and their teams to a new investment advisor. However, it will be shutting down its wider institutional business in London.

The decision comes as wealth manager St. James’s Place Plc withdrew the majority of

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