Two fund management boutiques have merged to form an almost ÃÂ£3bn (Ã¢ÂÂ¬4bn) multi-asset specialist, in a surprise deal that looks to profit from booming demand for diversified funds after the credit crunch.

Fund management boutique iimia MitonOptimal, itself created through a merger last October, has bought Liverpool-based Midas Capital to create a multi-asset specialist with Â£2.9bn under management.

Merger creates ÃÂ£2.9bn multi-asset specialist

Phil Craig

iimia MitonOptimal

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