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UK's Miton To Acquire Darwin Investment Managers; New Manager Arrives After Strategy Dispute
Miton Group, the London-listed fund manager, is proposing to buy Darwin Investment Managers, while also appointing the man who manages Darwin’s multi-asset fund.
Miton Group, the London-listed fund manager, is proposing to buy Darwin Investment Managers, while also appointing the man who manages Darwin’s multi-asset fund, it said today. The appointment of David Jane, who will now run four of Miton’s multi-asset funds, happens after former Miton manager Martin Gray and Miton disagreed about the latter’s plans for the future, it said.
David Jane has been appointed fund manager to four of Miton’s multi-asset funds following the resignation of Martin Gray, as a director, from Miton’s board.
Under the terms of the proposed acquisition, Miton is to acquire all the issued share capital of Darwin. Darwin’s multi-asset fund, set up in November 2010, is majority owned by David Jane, it said in a statement.
Miton said its strategic objectives remain unchanged, but it has “become clear in recent months that the group’s plans for the future differ from those of Martin Gray. Consequently, after cordial discussions, Martin has decided to leave the Miton Group and cease management of the below mentioned funds”.
“Martin Gray leaves with the Board’s warm thanks, particularly given his major contribution to the Miton Group over many years. We wish him well in his future endeavours,” the statement said.
Elaborating on Jane’s appointment, Miton said it he has a “strong
long-term multi-asset track record, most notably during his 10
years at M&G, where he was head of equity investments and
managed the flagship M&G Cautious Multi Asset Fund (now known
as the M&G Episode Balanced Fund)”.
Jane went on to found Darwin Investment Managers Limited in 2010.
He will be employed by Miton with immediate effect, along with the rest of the Darwin investment team. He has already received FCA authorisation to take over running of the following Miton funds: CF Miton Special Situations Portfolio; CF Miton Strategic Portfolio; CF Miton Total Return Fund and Miton Global Diversified Income Fund.
