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Miton assets reach £4.5bn

Fund manager Miton has surpassed £4.5bn in assets under management as it records profit and revenue growth for the first six months of the year.

In the same period the previous year, Miton reported £3.3bn AUM. At the end of August, AUM had risen to £4.8bn.

Miton reported profit before tax for the six months to 30 June 2018 of £4.2m, up from £2.4m the previous year.

Net revenue was £12.8m, which was an increase on the prior year result of £10.3m.

The firm says it has now reported seven consecutive quarters of positive net inflows.

Miton Group chief executive David Barron says: “The results of the first half reflect increasing interest in the genuinely active positioning of our range of funds, the strength of our distribution across the UK and the growing profile of Miton.”

He says: “The momentum of our fund flows and performance are strong. The outlook for the remainder of the year is encouraging.”

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