Amati has confirmed today that it has completed the buyout of the 49% stake in Amati owned by Mattioli Woods, a position held by the wealth management firm since 2017.

Welcoming the development, Amati CEO, Dr Paul Jourdan said, “We are delighted to be a fully independent, employee-owned, investor-led fund management firm once again. With fully aligned and incentivised teams and a strong and scalable platform for growth, we go into 2026 with renewed vigour and confidence. I would like to take this opportunity to thank our colleagues at Mattioli Woods for their partnership and support over the past eight years.”

From founding the business in 2010, Amati committed to a policy of giving 10% of annual profits to UK charities. This has seen more than £1.5m gifted to over 60 UK Charities over the years, and the Edinburgh-based boutique re-affirms this commitment for the future on the back of the buyout.

Funds update

Amati continues to view the UK Smaller Companies asset class with optimism for the opportunities it presents to investors and its role in clients' portfolios. The Company is pleased to announce that Gregor Paterson has been appointed as a fund manager for the flagship WS Amati UK Listed Smaller Companies Fund and Amati AIM IHT Portfolio Service, working alongside Dr Paul Jourdan. Paterson had been working with the team as an analyst, since July 2024, and has more than 25 years of experience in UK small and mid-cap equities. At the same time, Amati expresses its gratitude and extends its good wishes to Scott McKenzie who will be retiring from the UK team at the end of December.

Dr Paul Jourdan said, "The UK stock market has been going through difficult times for a number of years now, with continuing outflows and ongoing government policy uncertainty. However, history suggests that these trends do not last forever. Neglected UK small caps are now offering a myriad of compelling investment opportunities. Long term outperformance of UK Smaller Companies versus large caps has been a feature since 1955, and we believe the current situation creates the potential for a sharp improvement in returns for the asset class and our UK Listed Smaller Companies Fund. I am looking forward to working with Gregor to bring this about.”

The Company’s newer strategies meanwhile, namely WS Amati Strategic Metals Fund (launched in 2021) and WS Amati Global Innovation Fund (launched in 2022), continue to grow their assets under management and are delivering top quartile performance and strong absolute returns for clients.

Reflecting the ongoing evolution of these funds, Amati is pleased to announce the appointment of Georges Lequime, fund manager on the Strategic Metals Fund and Mikhail Zverev, fund manager on the Global Innovation Fund, to the Amati Board.

"We took a decision a number of years ago, to diversify the business into two important global equity asset classes, Natural Resources and Global Innovation”, said Jourdan. “Both have delivered handsomely, and especially over the last year.

“The Strategic Metals Fund managers have decades of mining investing and direct mining industry experience, and it is this depth of expertise combined with the wide-ranging remit to invest across all metals, and the focus on small and mid-sized mining companies, which we believe distinguishes the Fund from others in the sector. The critical importance of mining and strategic metals in the new geopolitical reality has become abundantly clear. This has created some powerful upward trends in metals prices, most notably in gold and silver during 2025, as well as a scramble for control of new rare earth mining projects outside of China, from which the Fund has benefited.

“Our Global Innovation Fund is likewise managed by a team with deep global equity experience, technical expertise and a track record of strong performance. The managers combine a focus on specialist areas of innovation and technological change with a strong valuation discipline – the portfolio companies being profitable, cash generative businesses, often off the beaten track for many global investors. The Fund has a differentiated proposition and is delivering a source of complementary returns for a growing number of our clients."

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