Charles Stanley has decided to dispose of the FP Matterley Undervalued Assets Fund and has agreed to Miton Group taking over management and ownership of the fund for an undisclosed fee.
In the coming weeks both Charles Stanley and Miton Group will be contacting shareholders of the FP Matterley Undervalued Assets Fund to communicate the detail and merits of the deal.
Having launched in August 2008, the FP Matterley Undervalued Assets fund has delivered 122 per cent since inception, close to double that of the UK All Companies sector and FTSE All Share index, both of which have returned 62 per cent over the past six years.
Going forward, the investment management of the fund will be assumed by Miton Group Plc fund managers George Godber and Georgina Hamilton. Godber previously co-managed the FP Matterley Undervalued Assets Fund at Charles Stanley with Hamilton working as senior analyst on the fund.