LONDON (Alliance News) - MedicX Fund Ltd Friday said that Octopus Capital Ltd has agreed to acquire MedicX Group, including MedicX Adviser Ltd, the fund's investment adviser, but noted that MedicX Chief Executive Mike Adams will continue to work with his existing team in the same role.
"The strong partnership approach which MedicX Fund has in place with our investment adviser has helped us to build a successful track record over the past eight years. With no change in the strategy, nor the investment advisory agreement, we look forward to continuing to work with MedicX Adviser Ltd on the future growth of the fund," MedicX Fund Chairman David Staples said in a statement.
Octopus Capital Ltd is Octopus Investments Ltd's parent company. After the deal closes, Octopus's assets under management will total about GBP4.5 billion.
MedicX Fund shares were Friday quoted at 83.22 pence, down 0.6%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.