Three MAM Funds portfolios, including Martin Gray's £619m Miton Special Situations fund, hold a total 12% stake in Gervais Williams' Diverse Income trust, which listed in April.
MAM Funds has moved back into the black, reporting after-tax profit of £400,000 for 2010, compared to a £7m loss in 2009.
MAM funds' Gervais Williams believes UK small caps are set to thrive in an anaemic growth environment as they focus on returning cash to shareholders.
The board of the £54m Gartmore Growth Opportunities trust has served ‘protective' notice of termination of its management agreement with Gartmore, following the resignation of Gervais Williams.
Gervais Williams has resigned from Gartmore and will leave the firm at the end of September.
The board of Gartmore's Fledgling Trust is proposing to change its investment policy to allow it to h...