Miton Group, a UK-based multi-asset fund manager, has completed the acquisition of David Jane’s investment boutique Darwin Investment Managers.
As part of the agreement, Jane will move to Miton to take over of the £742 million Miton Special Situations and £181 million Strategic portfolios as well as the Total Return and Global Diversified Income funds.
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In addition, Jane will replace Miton’s director Martin Gray, who has left the firm in June this year. Gray joined Miton in 1994, and has managed the Special Situations fund since 1997.
Gray has also decided to cease the management of the four funds under his control.
Following the takeover, Jane’s £47 million PFS Darwin Multi Asset fund will be integrated into Miton.
Miton bosses were quoted by fundweb.co.uk as saying, "The group’s strategic objectives remain unchanged, but it had become "clear in recent months that the group’s plans for the future differ from those of Martin Gray."
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