Miton

Miton has reported pre-tax half-yearly profits of £300,000 to 30 June, down from £500,000 from the same period last year as expenses rose.

Miton has appointed former J.P. Morgan Asset Management investment trust head David Barron as director of investment trusts and product strategy.

Miton Group's shares have jumped by almost 17% in early trading following its acquisition of Psigma Asset Management in a deal worth up to £13m.

Miton, the AIM-quoted fund management group, has announced the acquisition of Psigma Asset Management in a deal worth up to £13m.

Apollo Multi Asset Management founding partner Tom McGrath is set to exit the firm at the end of this month.

Multi-asset managers have been forced to move into specialist vehicles or even switch to open-ended funds as the number of closed-ended vehicles trading on a premium to NAV hits a post-crisis high.

Miton Group - Gervais Williams' fund management company - has announced plans to launch a range of UK equity funds after a positive year for the group which saw assets climb towards £2bn.

Miton's managing director Gervais Williams is to take over the management of the Henderson Fledgling investment trust he ran for almost a decade at Gartmore, ahead of a planned merger with his £127m Diverse Income trust.

Simon Callow has opened five new positions in the CF Miton Diversified Growth fund which he thinks will perform strongly as the UK equity market breaks out into a higher trading range.

James Sullivan, co-manager of the Miton Special Situations and Strategic portfolios, warns investors not to get too carried away by the New Year optimism.