Miton Asset Management managing director Gervais Williams is joining the team managing the £360m PSigma Income fund.
Williams, whose £182.4m Miton UK Multi Cap Income fund was soft closed last month, will co-manage the strategy with Bill Mott and Eric Moore. Mott will remain lead manager and the investment philosophy of the fund will remain unchanged.
Investment manager Neil Cumming and research analyst David Hallam will be stepping down from the fund and leaving the firm, following Miton’s acquisition of PSigma Asset Management in July in a deal worth up to £13m.
Miton Group head of sales and marketing Ian Chimes says: “Gervais is an extremely experienced UK equity manager. This move will strengthen the team considerably and bring some fresh ideas to the management of the PSigma Income fund.”
Mott adds: “Both Eric and I are looking forward to incorporating the fresh perspective that Gervais will bring to the fund.
“I would also like to acknowledge and thank Neil Cumming and David Hallam for their contribution.”
Three Counties IFA Andrew Alexander says: “If I was a holder of the Psigma Income fund, which I am not, I would have to look at how the fund will change. Existing holders need to be aware that allocations would gradually move away from the large caps.
“Also, everything at Miton seems to be going through Gervais Williams right now. Gervais is a big fish in a small pond. I have complete faith in him but they seem to be putting all their eggs in one basket.”