MAM Fund’s Sam Liddle quits for app venture

MAM Fund's manager Sam Liddle is set to leave the firm in June, to focus on his smartphone apps business which he established last year.

The manager of the CF Miton Cautious Income Portfolio and CF Miton Global Growth Portfolio, joined Miton Investments in 2003, and has been responsible for the Cautious Income fund since its inception in March 2001.

Gervais Williams, managing director of MAM funds, said: ‘We’re going to merge the two funds, as they are difficult to manage.

'It’s in the unit-holder’s interests to merge them with other funds which are larger. This will lead to a better job of managing the assets in terms of more liquidity. Liddle has done an excellent job of managing the funds over the years.’

He said the £9 million Cautious Income fund will be merged with the £13 million ACUIM UK Multi-Cap Income fund, while the £20.6 million Global Growth fund will be merged with £14.9 million CF Miton Select Assets.

The Cautious Income Portfolio returned 43.1% over three years to 21 February, compared with the benchmark’s 48.7%. The Global Growth Portfolio delivered 31.1% over this time, compared with the benchmark’s 64.8%.