Miton growth bolstered by Williams fund

Miton growth bolstered by Williams fund

The Miton Multi-Cap Income fund has attracted net inflows of about £200m in the 2018 calendar year, helping Miton generate overall net inflows of £1bn in the twelve month period.

The fund, managed by Gervais Williams and Martin Turner, is the absolute top performer in the IA UK Equity Income sector since it launched in 2011.

Mr Williams and Mr Turner are best known as smaller companies managers, and the strong market conditions seen for most of the time since 2011 have boosted the returns of more growth focused smaller companies, relative to the returns of the larger companies that are held in most of the income funds in the sector.

Miton’s total assets under management (AUM) at the end of December were £4.3bn, compared with £3.8bn at the end of December 2017, an increase of 14.5 per cent.

The total inflows of £1bn were more than double the total inflows attracted in the previous year, aided by the launch of two new funds during the period, the Miton Balanced Multi Asset Fund, and the Miton US Smaller Companies fund.

However, adverse market movements had wiped £466m from Miton’s assets under management during the year and the assets under management of the investment trusts at Miton fell by £25m.

David Barron, chief executive of Miton, said: "We have generated strong fund flows in 2018 and net sales in excess of £1bn since the start of the financial year.

"These flows are testament to the breadth of our fund management capability, the strength of our distribution and the attraction of genuinely active fund management.

"This growth has been achieved despite the impact of the weak market performance in the fourth quarter."

The company said it expects its annual results, when announced in March, to be in line with expectations.