Seneca Asset Managers plans to change the name of the Midas Income & Growth trust after acquiring its managers in March.
After the firm bought Miton Capital Partners, it renamed the manager Seneca Investment Managers.
While Midas managers Alan Borrows and Simon Callow (pictured) have stayed in place, the firm hopes a rebrand as Seneca Global Income & Growth trust will emphasise the portfolio's global remit.
In addition, the trust has changed the investment management fee to 0.65% per annum of market cap above £50m, as opposed to the previous flat rate of 0.9%.The change took place on 1 July.
Midas chairman Richard Ramsay described Seneca's acquisition of Miton Capital Partners, along with the trust's performance, as highlights of the year.
The trust had a net asset value total return of 7.2% for the year ending 30 April, and a share price total return of 9.9%. The dividend for the year increased by 3.2%, to 5.42p.
Miton agreed to sell its Liverpool-based funds business, Miton Capital Partners, earlier this year.
The investment managers running these funds moved across to Seneca, while the funds were rebranded under the Senena Investment Managers name.
