View more on these topics

Miton boosts equity income presence with PSigma acquisition

Miton Group is acquiring PSigma Asset Management in a deal worth up to £13m that will bring respected equity income manager Bill Mott under the same roof as small cap specialist Gervais Williams.

Miton will pay between £6.75m and £13m in a mixture of cash and ordinary shares to parent company Punter Southall Group, with the size of the deal dependent on PSigma’s assets under management in two years’ time.

Currently, PSigma runs around £750m, with some 91 per cent of this coming from the UK equity income mandates built up by Mott and managing director Ian Chimes.

PSigma’s range includes Mott’s £383.2m PSigma Income fund as well as Jing H Sun’s £29.1m PSigma Global Equity, James Abate’s £23.5m PSigma American, Tom Becket’s £20 PSigma Dynamic Multi Asset and Neil Cumming’s £1m PSigma UK Growth funds.

The role of Mott and his team will be unchanged after the move to provide continuity for PSigma’s clients, while Chimes will oversee Miton’s enlarged UK sales and marketing operation.

Miton runs 11 open-ended funds, including Martin Gray and James Sullivan’s £866.6m CF Miton special situations portfolio and Williams and Martin Turner’s £89.5m CF Miton UK Multi Cap Income funds and four investment trusts.

Hargreaves Lansdown senior investment manager Adrian Lowcock says the deal is positive, adding: “The businesses are complementary and Bill Mott and Gervais Williams hold similar macroeconomic views.”


Scottish Widows targets advisers with enhanced annuity launch

Scottish Widows has confirmed details of its new enhanced annuity offering for the adviser market. The Scottish Widows enhanced annuity will be available to customers between the ages of 55 and 75 and requires a minimum total investment of £5,000. The product offers both single and joint life options and guarantee periods of 0, 5 […]

Money Marketing Service Ratings launches

The Money Marketing Service Ratings has launched, creating a new benchmark for provider service which we hope will drive up standards. Provider service ratings have been awarded across 13 product categories, reflecting detailed analysis of more than 27,000 ratings by 885 advisers.   Adviser and administrator respondents were asked to rate providers’ general service performance […]

Undercover police officers to be sent into financial services firms

The City of London police is to start sending undercover police into financial services firms to tackle financial crime. Speaking at a Financial Conduct Authority conference on financial crime in London this week, City of London police chief superintendent Oliver Shaw said criminals need to know the police are “looking over their shoulder”. Shaw said […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm