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Midas duo make debut on Cofunds

The CF Midas balanced income and balanced growth funds are now available through Cofunds following the completion of a distribution link between Midas Capital Partners and the fund supermarket.

The Midas funds can be accessed through a range of platforms and insurance companies including FundsNetwork, Skandia, Selestia and Winterthur LifeMidas says its CF balanced income fund has recently bought into the London-listed Middlefield Canadian income trust, which allows investors outside Canada to benefit from the same level of tax efficiency as domestic investors.

The Channel Islands-based trust structure allows the Middlefield Group to distribute income in a tax-efficient way. Historically, this has not been possible.

Midas says the Middlefield Canadian fund is an attractive proposition because it will provide an income of 7 per cent a year.

The fund will invest in mature companies in sectors such as resources, manufacturing and property.

Midas is also extending its strategy of investing in less crowded areas of the fund of hedge funds market. It recently added the Acencia debt strategies C-share issue to the balanced income fund.

Head of business development David Thomas says: “We are delighted to be on Cofunds as it has a strong market position. Once both parties were comfortable that there was a genuine demand for Midas funds to be available through Cofunds, it happened pretty quickly.

“The Middlefield trust that we hold in our income fund is an interesting one. We think it is in keeping with our aim of providing diversity within the balanced income fund.

“We are also continuing to look at less crowded areas of the fund of hedge funds market. The Acencia fund is a debt-orientated hedge fund that aims to achieve returns in excess of Libor plus 5 per cent.”


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