Boutique asset manager wins back £200 million flows after managers exit

Miton Group chief executive David Barron

Boutique asset manager Miton Group has recouped the nearly £200m lost from its equity funds seen 2016, when it lost two star fund managers to a rival.

For 2017, the group saw £494m net inflows, up from just £1m inflows seen in 2016. Equity funds in particular saw inflows of £361m, while multi-asset strategies gathered £127m.

This compares with the £181m outflows in equity funds in 2016, which were partly offset by Miton’s multi-asset funds inflows of £154m. Total outflows for 2016 were £27m.

The group had struggled with outflows in 2016 following the departure of two of its key managers George Godber and Georgina Hamilton, in the second quarter of that year.

They ran the Miton UK Value Opportunities fund, which saw significant outflows over the first half of 2016.  The duo is now at Polar Capital.

However, a Miton trading update published today shows assets under management at the firm soared to a record 32 per cent in 2017, up from £2.9bn to £3.8bn. The group says eight out of 11 open ended funds saw net inflows for the year.

Chief executive officer David Barron says the business is “more balanced than ever” as it enters the new year.

He says: “By offering a strongly differentiated range of multi-asset and single strategy funds and positioning them as complementary to index-based strategies, we are well-placed for the changes taking place in the UK asset management market. We have achieved strong investment outcomes for our clients and are building a resilient and diversified business.”

The final results for the group for 2017 are due to be released on 19 March 2018.



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