Funds Centre

iimia MitonOptimal acquire Midas Capital Partners

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On March 6th iimia MitonOptimal conditionally agreed to acquire Midas Capital Partners Limited. The new company name will be Midas Capital plc. Both groups manage funds that feature in the

Wealth 150, a list of our favourite funds in each sector.

In our opinion joining forces should strengthen the management team. Following the merger there will be 15 investment professionals looking after clients’ money.

iimia MitonOptimal’s purchase will be partly funded by a share placing. However, the owners of Midas have stated that they intend to reinvest a significant portion of the capital generated from the sale in the newly merged business. This is good for investors; it ties the management into the firm and gives them a clear incentive to perform.

It is our understanding that there will be no changes to the way the funds are managed. Of course there are no guarantees that there will be no changes in the future, but for the time being it is business as usual. Overall we believe investors should see no negative effects from this merger.

Therefore we are happy for the Midas Balanced Growth, Midas Balanced Income and Miton Strategic funds to stay in the Wealth 150. We will continue to monitor this situation and will keep investors updated with any change in opinion.

Key Features for the aformentioned funds;

» Midas Balanced Growth

» Midas Balanced Income

» Miton Strategic

 

Fund research is provided by Hargreaves Lansdown. Hargreaves Lansdown is an independent broker offering unit trust, stockbroking and other pension and investment services. No news or research item is a personal recommendation to deal.