4 September 2020 – Following the merger of Premier Asset Management Group plc and Miton Group plc last November, the newly named Premier Miton Group plc is proposing the merger of two of its income funds: FP Premier Miton Income and Premier Monthly Income fund.
Subject to unitholder approval at an extraordinary general meeting on 11 September 2020, the two funds would be merged on 25 September 2020.
Commenting on the proposal, a spokesperson said: “Across the combined fund range there is some duplication of similar funds with nearly identical objectives. We are therefore looking to merge the FP Premier Miton Income fund and Premier Monthly Income fund, which are very similar UK equity income funds, managed by the same investment team. The continuing fund will be the Premier Monthly Income Fund.”
Full details of the proposed merger can be found here.
The continuing fund will still be run by Eric Moore and supported by Premier Miton’s UK equity investment team, led by Head of UK equities, Gervais Williams, who has over 30 years of investment management experience.
It is hoped that the merger will reduce the fund costs for investors in the continuing fund, due to the economies of scale associated with a larger portfolio.
Investors will also receive regular monthly dividend payments in the continuing fund, rather than quarterly payments, which are currently paid by the FP Premier Miton Income fund.