Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Miton Group snaps up PSigma AM in deal worth up to £13m

1 Comment
Miton Group snaps up PSigma AM in deal worth up to £13m

Miton Group is to acquire PSigma Asset Management.

The AIM-listed fund manager said it would take on the entire issued share capital of PSigma, and will pay up to £13 million to seal the deal.

PSigma's total assets under management were £750 million at the end of June, with UK income mandates representing the bulk of these.

These will boost Miton's £2 billion in assets to around £2.8 billion.

Moreover, recognising PSigma's franchise is built upon Bill Mott's and Ian Chimes' success in UK income funds,  Miton said that following the acquisition Mott (pictured) and his team's role would be unchanged, which also ensures continuity for PSigma's clients.

Chimes, PSigma's managing director, will head up Miton's enlarged UK sales and marketing operation.

Announcing the agreement, Ian Dighé, executive chair of Miton Group, said: 'Bringing Bill Mott and his team together with Miton is a significant step forward to the benefit of our joint client base, particularly in the UK equity income sector.

'Both businesses have distinctive and forward-looking investment strategies. With combined assets under management of £2.8 billion, we will have an even stronger platform to accelerate the growth of our business.'

Chimes added: 'The whole team at PSigma is excited about the opportunity to grow our assets in the future in combination with Miton.

'We bring distinctive single strategy funds and our particular expertise in equity income investing, which will increase the breadth and depth of the combined product range, benefitting both current and prospective clients.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Thomas Miller explains its post-restructure plans

Profile: Thomas Miller explains its post-restructure plans

Thomas Miller Investment’s (TMI) head of wealth Matt Phillips has strong opinions about many things

Wealth Manager on Twitter