Miton Asset Management is set to limit inflows into Gervais Williams’ £260m CF Miton Multi Cap Income fund.
The company confirmed it is looking to soft-close the fund to new investors in the near future but that it had yet to confirm a date. It will be removed from the Novia platform at the end of this month, according to Novia’s website.
The fund was £184m in size at the end of September.
Miton said it had planned to limit the size of the multi cap income strategy, which also includes the £245.5m Diverse Income Trust, to between £550m and £600m.
The fund was only launched in October 2011 but it has attracted significant inflows due to its outperformance since launch, including a recent investment from Rathbones’ multi-manager David Coombs.
The fund is currently a top decile performer in the IMA UK Equity Income sector in the past year, returning 41.5 per cent compared to a sector average return of 25.5 per cent, according to FE Analytics. It has a historic yield of 4.1 per cent, according to its factsheet.
