Miton's AUM up 38%

Miton's AUM up 38%

Growth in its actively managed equity funds helped fund house Miton grow its assets under management (AUM) by 38 per cent in the nine months to the end of September 2018.

In an update released to the stock market this morning (10 October), the company stated their equity funds attracted net inflows of £821m in the nine month period, bringing the total managed in those strategies to £3.3bn.

The four multi-asset funds at the company gained a net £131m to bring the total managed by David Jane and Anthony Rayner to £962m at the end of September.

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The decision to stop managing The Investment Company, a small investment trust, during the period, contributed to a decline in the investment trust assets managed by the business, which fell from £605m to £576m during the period.

The total assets under management for the company rose from £3.8bn to £4.8bn in the nine month period.

David Barron, chief executive of Miton, said he doesn't expect the business to become significantly involved in the wave of consolidation presently being experienced in the asset management industry, but said his "door is open" to individuals who may want to join the asset manager.