MAM to close Global Growth and Cautious Income as Liddle quits

MAM Funds' multi-manager Sam Liddle is set to leave the group in the summer, and his two funds will be merged away into other portfolios.

Liddle (pictured) is leaving to focus on a new app business venture, initially working on a project called Zap!, an advertising platform for the hospitality industry. This will later expand its reach into tourism and other areas, he said. Liddle is on gardening leave with immediate effect until the end of June. Managing director Gervais Williams said Liddle’s funds had become untenable owing to their small asset base. His £9m CF Miton Cautious Income portfolio and the £21m CF Miton Global Growth portfolio he co-manages with Nick Greenwood will be run on an interim basis by Williams...