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Midas joins forces with Legal & General

Midas Capital’s balanced income and balanced growth funds are now available through Legal & General’s life and pensions products, following the completion of a distribution link between the two companies.

The link will enable advisers to buy the Midas funds through the Cofunds platform’s onshore bond and pension wrapper, which is also provided by L&G.

The Midas funds, which are approaching their fifth anniversary, are already available through the Cofunds platform. They had a 3.87 per cent market share as at the end of February, making Midas Capital the ninth most popular fund management group on the platform, excluding bonds.

The company recently reached the milestone of £1bn under management, with two thirds of that invested in the funds and a third in segregated accounts and pension funds.

Midas Capital head of business development David Thomas says “We joined Cofunds in September last year and it has gone well. L&G provides the onshore bond and pension platform but we couldn’t join it without signing up to L&G.

“It’s incredible that we’re the ninth most popular fund manager on Cofunds so far this year, if you recall that we have two funds that have only been on there six months. There are a lot of managers on Cofunds and we’re ahead of a lot of household names.”

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