David Jane, founder of multi-asset boutique manager Darwin Investment Managers has been appointed fund manager to four of Miton’s multi-asset funds following the acquisition of his firm and the resignation of Miton director Martin Gray.
Miton announced the proposed acquisition of the entire issued share capital of Darwin to the stock exchange this morning (9 June). Darwin manages a single multi-asset fund and is majority owned by Mr Jane.
According to Miton bosses, the group’s strategic objectives remain unchanged but it had become “clear in recent months that the group’s plans for the future differ from those of Martin Gray”.
Consequently, bosses said “after cordial discussions” Mr Gray has decided to leave the Miton Group and cease management of the four funds under his control.
Mr Jane spent 10 years at M&G where he was head of equity investments and managed the flagship M&G Cautious Multi-Asset fund, now known as the M&G Episode Balanced fund. He founded Darwin in 2010.
Mr Jane will be employed by Miton with immediate effect, along with the rest of the Darwin investment team.
He has already received FCA authorisation enabling a seamless transfer of management responsibilities for CF Miton Special Situations portfolio, CF Miton Strategic portfolio, CF Miton Total Return fund and Miton Global Diversified Income fund.
On completion of the acquisition of Darwin, the PFS Darwin Multi Asset Fund will be integrated into the Miton Group.
Ian Dighé, executive chairman of Miton Group, said: “Bringing someone of David’s profile and experience underlines the strength of Miton’s ambition in serving the needs of our clients.
“Miton has made a strong start in 2014. The board remains confident of delivering decent earnings growth over the year.”
Mr Jane said: “I am very excited to be joining Miton at this stage of its development.
“Our distinctive approach to portfolio construction, which focuses on blending shorter term macro opportunities with longer term themes, has been popular with clients and underpins our strong performance track record.
“The opportunity to build on this, with the resource and skillsets at Miton, should prove to be a powerful combination for clients.”
The appointment comes just two months after Mr Jane’s TM Darwin Multi Asset fund was renamed in the summer due to a change in the fund’s authorised corporate director.
