Miton is to close its Total Return fund managed by David Jane after assets fell to an uneconomical size.
The fund was previously managed by Martin Gray until his departure in June 2014 to join Coram Asset Management. It is now managed by Jane (pictured) and Anthony Rayner, who joined Miton as multi-asset managers in 2014 when it bought their firm, Darwin Investment Management. Assets under management for the fund, which was launched in 2006, now stand at just £6.1m, making it uneconomical to run. As a result, the firm has written to investors to inform them of its decision to close the vehicle due to its uneconomical size. A spokesperson for Miton said: "The reason for this is that...
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