Charles Stanley sells FP Matterly to Miton Group

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UK financial services provider Charles Stanley is selling the FP Matterley Undervalued Assets fund to Miton Group plc for an undisclosed fee, which will also see investment management transferred.

The fund has returned 122% since launch in August 2008, about twice the return from the UK All Companies sector and the FTSE All Share index, which have returned some 62% over the past six years.

Managers on the fund going forward will be George Godber and Georgina Hamilton, previous co-managers on the fund at Charles Stanley. At Miton, the pair have also launched and managed the CF Miton UK Value Opportunities fund.

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