Psigma combines with Miton

Psigma, the UK asset manager set up in 2007 and boasting a strong franchise in UK equity income products, has been sold to Miton. A sum of £5.25m (US$7.6m) has been paid upfront for the business, and up to a further £7.75m (US$11.8m) is subject to the value of funds under management in two years time.