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Merger creates £2.9bn multi-asset specialist

Two fund management boutiques have merged to form an almost £3bn (€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 £2.9bn under management.

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