Since announcing the acquisition in January, there has been a management and ownership reshuffle. David Warnock has taken on the role of chairman at Seneca, while founder of Better Capital, Jon Moulton, has taken on a minority shareholding in the new company.
The two open-ended investment companies run by Miton Capital are the Distribution Fund and the Diversified Growth Fund, as well as an investment trust, the Midas Income & Growth Trust. According to the firm, the two OEICs will be rebranded as part of the acquisition.
"With the FCA approval process and completion now behind us, we can focus our energies on building Seneca Investment Managers into a major force within UK fund management. We have ambitious plans for the firm,” Seneca’s CEO Stuart Eaton said.
Seneca is a Merseyside-based wealth manager, founded in 2010 by Ian Currie, Stuart Eaton and Alex Dymock to provide investment services to high net worth clients. It manages a number of specialist investment funds and has offices in Leeds, Birmingham and Manchester.
