Seneca Global Income & Growth PLC - investment trust focused on quarterly income with long term capital growth - Supportive of Momentum Global Investment Management Ltd buying the trust's investment manager Seneca Investment Managers Ltd. Seneca does not expect a change to the company following the takeover, including no redundancies.
"The companies share a philosophy of outcome-based multi-asset value investing; SIML's current investment management team will retain its portfolio management responsibilities; and the transaction will be structured to ensure that clients experience seamless continuity of service with the additional benefits of a stronger offering and broader capabilities," Seneca said.
Current stock price: 145.0 pence
Year-to-date change: down 19%
By Paul McGowan; paulmcgowan@alliancenews.com
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