MAM fund manager Sam Liddle will leave the firm at the end of the month to pursue business interests outside of the asset management industry.
Liddle will leave the asset manager, where he runs two funds, on February 29.
MAM Funds managing director Gervais Williams will take over the £9m CF Miton cautious income fund from March 1, while fund manager Nick Greenwood will assume lead management on the £20.6m CF Miton global growth fund.
Williams adds: “After an internal review we concluded that the two funds would be best managed, going forward, by merging them into existing funds in our range.”
Subject to shareholder approval, the CF Miton cautious income fund will be merged into the £10.5m Acuim UK multi cap income fund, which is managed by Williams. The CF Miton global growth fund will merge with Greenwood’s £14.9m CF Miton select assets fund.
Investors are expected to be given the choice of a rollover into the merged funds or a cash exit.
Liddle joined Miton Asset Management, which later became MAM Funds, in January 2003, having previously been at Legg Mason.
According to FE Trustnet, the manager has underperformed his peer group composite over one, three, five and 10 years.