AIM-listed AssetCo – in which Aberdeen Asset Management co-founder Martin Gilbert recently acquired a stake of just under 10 percent – has provided further details about its plans to focus exclusively on the asset and wealth management sector.

Rather than just operating as an investment holding company with its capital invested in asset and wealth management companies, AssetCo intends to manage and operate any firms it subsequently acquires, a development that will result in it becoming a regulated entity.

AssetCo “will principally focus on making strategic acquisitions and building organic activities in areas of ...