25 May 2012

Fund manager Gervais Williams joins MAM Funds

15/12/2010 Miles Nolan

Following his departure from Gartmore a couple of months back well known fund manager Gervais Williams has resurfaced at MAM Funds. The AIM quoted fund management firm is valued at £21m and plans to raise £20m at 33p a share - a premium to its current share price of 31.5p.

Williams spent seventeen years at Gartmore where he was head of UK Small Companies managing in the region of £900m. He is joining MAM as managing director alongside executive chairman Ian Dighe, a well regarded financier and the founder of broking house Bridgewell. With a strong pedigree established in the financial services industry Graham Hooper is joining as distribtion director.

MAM Funds is the recently rebranded Midas Capital and Miton Asset Management and runs £1.6 billion of long only funds. Its flagship funds are the Balanced Growth Fund run by Simon Edwards and the Special Situations Fund run by Martin Gray.

The intention is to build a sizeable fund management group, outgoing chairman and chief executive Colin Rutherford says 'there is plenty of opportunity out there and we have put together a strong management team'. A number of new products are planned and though institutions will be targeted to back the fund raising the new team will be investing £3m of their own money. After the 9 per cent rise in the share price today the market would appear to agree with the strategy. Interesting.

Tags: AIM market, Fund management, Fund raising

Sector: General Financial

Companies: MAM Funds

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