Mon, 27/01/2014 - 06:07
Seneca Investment Managers has acquired – subject to FCA approval – Liverpool-based Miton Capital Partners, a division of Miton Group.
The fund management firm will be renamed Seneca Investment Managers.
The purchase will add a fund division to the group’s UK asset management and corporate advisory operations.
The funds currently managed by Miton Capital Partners are:
1. CF Miton Distribution Fund
2. CF Miton Diversified Growth Fund
3. Midas Income & Growth Trust plc
The funds’ investment management team will all remain in place, overseen by new chief executive Stuart Eaton. In future Seneca Investment Managers will add additional expertise to the existing team in order to drive further growth. The two OEICs will also be rebranded to reflect their new ownership.
The acquisition will disrupt neither clients nor staff.
Eaton says: "Miton Capital Partners was a perfect fit for us — strategically, logistically and geographically. We had wanted to expand our asset management operations in order to offer a more holistic proposition to our clients; and the funds and experience we have acquired enable us to do just that. With the acquisition of this profitable and proven business, we now have the foundations in place to build the Seneca brand and realise our broader goals for our clients and the group.
“The existing Miton Capital Partners fund management team share our vision for the new company, and are excited at the opportunities that Seneca’s expertise and proximity will bring to the business."
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