- Frenkel Topping said its discretionary fund manager Ascencia Investment Management and Truly Independent had established an equal joint venture.

The joint venture would be named Truly Asset Management.

As part of the joint venture, Ascencia would provide discretionary fund management (DFM) services to Truly's 50 registered individuals, broadening its DFM distribution to external independent fund managers.

The company said it expected this partnership would support the growth of its future assets under management.

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