Change of fund manager

News release

6 April 2011

Simon Edwards, Midas Capital Partners founder, announces his intention to retire

MAM Funds plc, the AIM quoted leading multi asset management group, announces that Simon Edwards has indicated his intention to retire.

Simon Edwards and Alan Borrows founded Midas Capital Partners in 2002, now a wholly owned subsidiary of MAM Funds plc.

Simon Callow, currently co-manager, will formally become lead manager of the CF Midas Balanced Growth Fund. Simon Edwards has kindly agreed to undertake an orderly hand over of his executive duties and expects to leave the group at the end of June 2011. Alan Borrows will continue as lead manager of the CF Midas Balanced Income Fund.

Simon Callow joined Midas Capital Partners in October 2005 and has over 15 years investment management experience, including private client stockbroking and discretionary fund management. In October 2008, he was made assistant manager of the Midas Income & Growth Trust Plc and in June 2010, appointed co manager of the CF Midas Balanced Growth Fund.

He spent eight years with BWD Rensburg, as an associate director, is a Chartered Fellow of the Securities Institute and is IMC qualified.

The CF Midas Balanced Growth fund has returned +72.8% since launch on 8 April 2002, outperforming the IMA Balance Managed Sector by 18.6%.Over the past 12 months the fund returned 15.4%, compared to 11.7% for the IMA Balance Managed Sector. (Figures as at 28/02/11*)

Prior to Midas Capital Partners, Simon Edwards was Chief Investment Manager at the £3bn Merseyside Pension Fund, where he oversaw both the investment management and the administration of the Fund.

Ian Dighé, Chairman, MAM Funds plc, says:

"On behalf of the board, I would like to record our sincere thanks to Simon Edwards who was instrumental in facilitating the strengthening of the group, both financially and by the introduction of the new MAM Funds senior management team earlier this year. He has nurtured over the years a strong team to continue and oversee the management of the Liverpool flagship funds, and we wish him well as he seeks to pursue his other business and charitable interests."

For further information please contact:

Ian Dighé, Chairman, MAM Funds plc Tel: +44 (0)7785 703261

Roland Cross/Zoe Butt Tel: +44 (0)20 7726 6111Broadgate Mainland[email protected]/ [email protected]

*Source: Financial Express

Notes to editors

MAM Funds Plc (MAM) is a leading multi-asset fund management specialist incorporating, Midas Capital Partners and Miton Asset Management fund brands. Both companies are wholly owned subsidiaries of MAM.

Founded in 2001, MAM represents the combined talents and experience of Midas Capital Partners and Miton Asset Management creating a new and inspired approach to fund management which is driven by global asset allocation. The Group's fund management teams have a wealth of experience and have won numerous industry awards for their innovative investment processes and performance.

In 2004 MAM was permitted to join the Alternative Investment Market. Members of the fund management team invest in their own funds and are significant shareholders in the Group. MAM has offices in London, Liverpool and Reading.

www.mamfundsplc.com