Coram Asset Management, the UK arm of the MitonOptimal Group, has agreed to acquire UK-based Minerva Fund Managers for an undisclosed sum.
Minerva is a specialist discretionary fund management company set up in 1990. The company is headed by director Paul Warner.
The deal, which is subject to regulatory approvals, will facilitate Coram’s expansion into the model portfolio market.
Coram director James Sullivan said: “We believe this deal brings numerous benefits to the MitonOptimal group, none more so than the enhanced level of service we will be able to deliver to our UK clients.
“Our expansion allows us to cater for those advisers who wish to have a more tailored proposition at their disposal, including model portfolio services. Additionally, with an increasing number of investors wanting to align their investments with their values, we also have the capability to provide SRI solutions.”
“Together, I believe we can offer our introducing IFAs and their clients an even better investment proposition. Minerva’s experience in managing model portfolios and SRI investing, coupled with Coram’s economic perspectives and experience in managing funds, will provide an enviable solution to IFAs and their clients,” Warner said.