The merged company, called Midas Capital, will manage £3bn worth of client money and will be quoted on the AIM market.
Simon Edwards, managing director of the new business, says: “Our merger with iMO will create the leading multi asset focussed fund management company in the UK. Joining forces will strengthen our investment team, our infrastructure and our ability to look after clients. We are very excited at this prospect, which we believe to be in the best interests of our investors and our clients.”
Many Midas and iMO employees will become major shareholders of Midas Capital, investing at least an additional £20m of personal monies into funds managed by the group.