In a joint press release, the two firms said that they will be contacting shareholders of the fund in order to “communicate the detail and merits of the deal”.
The investment management of the fund will be taken over by Miton’s George Godber and Georgina Hamilton, who previously co-managed the fund at Charles Stanley.
Ian Dighé, Miton Group chairman, said: “This move reunites our fund managers George Godber and Georgina Hamilton with a fund they helped to launch and manage from August 2008 to September 2012. Once approvals have been obtained, they will continue to manage the fund on a similar value-based philosophy.”
Mike Lilwall, group director of Charles Stanley said the disposal allows the group to concentrate its resources on its existing Matterley division funds and provide capital for further fund launches.
Charles Stanley said it will continue to own, manage and promote four remaining Matterley Funds:
- FP Matterley Regular High Income Fund
- FP Matterley International Growth Portfolio
- FP Matterley Equity Fund
- FP Matterley UK & International Growth Fund
