Equities  

Equity funds boost Miton Group assets

Equity funds boost Miton Group assets

Miton Group saw AUM climb from £2.05bn at the start of 2015 to reach £2.23bn by the end of June, as inflows in the second quarter exceeded the outflows it recorded in the first quarter.

In a trading update, it revealed the CF Miton UK Value Opportunities fund, including FP Miton Undervalued Assets fund which will be merged by the end of the year, attracted the greatest inflows during the six month period, with assets up from £211m to £378m at the end of June.

The group’s average AUM was £2.14bn in the first half, down from £2.95bn in the same period a year earlier.

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Its multi-asset funds had AUM of £504m, down from £603m at January 1, while its equity funds continued to gather assets during the six-month period, from £1.08bn to £1.27bn by the end of June.

Miton confirmed its intention to launch a European equities fund this year after Carlos Moreno joins as European equities fund manager in August.

It has budgeted £400,000 for the costs of its European initiative, the group said.

Ian Dighé, executive chairman of Miton Group, added: “Following the launch of Miton UK MicroCap Trust plc, we intend to launch a new European fund in the second half of the year.

“Assuming markets remain stable, we expect an improving growth trend in AUM going forward as many of our funds continue to generate decent absolute gains and sizeable outperformance for our clients.”