Midas

Former Midas and Momentum sales head David Thomas has joined Liverpool-based Seneca Investment Managers as its new CEO.

Seneca Asset Managers plans to change the name of the Midas Income & Growth trust after acquiring its managers in March.

Annabelle Williams asks two wealth managers which investment trusts have made it on to their buy lists.

THE BIG QUESTION

Kevin McConnell, manager of Bloxham's outperforming Midas Global Absolute Return fund, has warned many of the UK's absolute return vehicles are too correlated to equity markets.

Midas Investment Management has stepped up its public spat with the board of the Charter European trust, labelling its voting system undemocratic and requisitioning an EGM on 8 November.

MAM Funds has closed Sam Liddle's CF Midas Global Income fund after assets dwindled to the point it was no longer economical to run.

‘Retirement,' has replaced ‘spending more time with the family' as the euphemism for leaving high-profile jobs.

THE BIG QUESTION

Midas Capital today reports a loss for the first half of 2009 but says improving fund performance and a successful restructure of the business have put it in a good position for future growth.