Miton Group has agreed to acquire Darwin IM, with the latter's David Jane taking over the Miton Special Situations portfolio as Martin Gray leaves the company after 20 years.
Jane will join Miton with immediate effect, taking over the £742m Miton Special Situations and £181m Strategic portfolios as well as the Total Return and Global Diversified Income funds. That follows the resignation of Gray (pictured) from the board of the company. Gray joined Miton in 1994, and has run the Special Situations fund since 1997. The portfolio has struggled in recent years as Gray's bearish approach saw him fall behind peers amid a multi-year bull market for equities. Over three years the fund has returned 2.9% compared with an IMA Flexible Investment average return of 17.5...
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