Industry fund consolidation gathers pace as Midas merges iimia vehicles

The trend towards mergers for uneconomical funds is accelerating with four groups announcing last we...

The trend towards mergers for uneconomical funds is accelerating with four groups announcing last week they were taking steps to rationalise their ranges where the assets under management are too low to justify standalone portfolios. Investment Week understands Midas Capital, which is currently in talks with its lenders over its levels of debt, is streamlining its business with the merger of the iimia funds into is own fund management division a year after it acquired iimia. The merger will see the £24m iimia Income fund merge with the £29m Midas Cautious Income fund and renamed Miton G...