Momentum Global IM rebrands five funds post-Seneca acquisition

The change is effective on two Seneca funds from today (6 April), with three MGIM funds set to adopt a rebrand from 28 May.

VT Seneca Diversified Growth and VT Seneca Diversified Income are now known as VT Momentum Diversified Growth and VT Momentum Diversified Income.

MGIM acquires Seneca Investment Managers to create £4.7bn AUM business

MI Momentum Focus 3, 4 and 5 will respectively become VT Momentum Diversified Cautious, Balanced and Moderate from the end of May.

Each of the five funds will continue to benefit from the consolidated MGIM and Seneca investment teams feeding into the products.

The investment objectives of all five products will remain unchanged as part of the rebrand.

MGIM promotes Hardy to lead UK investment team

Ferdi van Heerden, chief executive of MGIM, said: “We have made great progress with the integration of Seneca into MGIM. This has ensured a combined business with a far broader and richer talent pool, all focussed on delivering target outcomes for clients.

“The Seneca and the Momentum Focus funds are very complementary and by fully integrating them into one Momentum branded range, this creates a comprehensive selection of risk rated multi-asset products designed to suit the needs of a whole spectrum of clients, either as their core investment holding, or at the very least a key addition to their existing portfolios.

“This is much more than just a cosmetic change. The enlarged investment team has been able to take their best ideas and deploy them across the integrated fund range.

“Going forward, investors should benefit from the output of this larger multi asset focussed team as their research depth and idea generation feeds into all of these solutions.”

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