Miton Group saw its assets under management rise by 16 per cent despite year-on-year net inflows plummeting in the first quarter of 2019 despite
The fund manager’s assets stood at £4.6bn at the end of the first quarter, up from £3.9bn in the same period last year.
But total net inflows fell by 98 per cent to £5m, down from £316m in the same period last year.
While net inflows for equity funds were £42m, multi-asset funds saw net outflows of £37m. Despite this, the group said this was the tenth consecutive quarter of positive net inflows.
David Barron, Miton Group's chief executive, said: "In the context of the wider market it is encouraging to see a further quarter of positive net inflows reflecting growth in several of the equity funds that were developed to meet client needs and diversify the business.
"Whilst markets have rallied, sentiment remains subdued and clients are still cautious. We believe we are well positioned, if more normal market conditions return, to continue to make further progress through the strength of our differentiated funds and our effective distribution."
The group had £3.2bn of equity funds under management as of 31 March 2019, up slightly from £3bn at the start of the year, while multi-asset funds under management stood at £839m, down from £847m in January.
Investment trust assets under management were £517m, up from £514m at the start of 2019.
