InvestmentsMar 18 2019

Miton posts £1bn inflows

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Miton posts £1bn inflows

Funds run by Gervais Williams and Martin Turner helped fund house Miton grow its assets under management by 14 per cent in 2018.

The annual results statement for the alternative investment market (Aim) listed firm showed funds run by Mr Williams and Mr Turned attracted £373m of new money during the year, about 37 per cent of the firm's £1bn net inflows.

This comes despite UK equity funds generally having seen outflows in 2018 as investors feared the outcome of Brexit.

David Barron, chief executive at Miton Group, said the multi-cap focus of its UK fund range proved attractive to fund buyers.

He added he was mindful of the "key man risk" at the firm and determined to diversify.  

There were also inflows to its US Smaller companies and European equity funds during the year, leaving Miton with total net assets under management of £4.36bn.

The US fund range had assets of £1.2bn at the end of the year.

Mr Barron said one of the key reasons his firm was able to attract net inflows in 2018 despite the choppy market conditions was a lack of "legacy products".

He said: "Because all of our products have been launched within the last decade, we don’t have any legacy products. A lot of firms have big, old products, and if the performance of those isn’t great, then it can impact the whole firm."

Miton posted a profit of £9.2m in the year, an increase of 34 per cent on the previous year.

david.thorpe@ft.com