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Miton inflows double in 2018

Business-Growth-Drawing-Chart-Performance-700x450.jpgMiton has seen its net inflows double in 2018, while assets under management increased 14 per cent year-on-year.

As at 31 December 2018, Miton saw more than £1bn net inflows, up from £494m in 2017, an increase of 106 per cent.

Its AUM currently stands at £4.4bn, up from £3.8bn at the start of 2018. It has seen more than £1bn in net inflows after a difficult year for markets.

The group’s three investment trusts saw a 15 per cent fall in AUM, which came after the agreed transfer of The Investment Company plc mandate on 29 March and a redemption option for shareholders in the Miton UK MicroCap Trust plc on 15 May 2018.

Equity funds saw the greatest uplift, with a 26 per cent increase in AUM and multi-asset funds contributed just 1 per cent to the growth.

Miton chief executive officer David Barron says 2018 was a year of “positive progress” for the group and the inflows demonstrated the appeal of strategies that are “genuinely active”.

He says: “We have continued to broaden the business as evidenced by the strong growth in our newer funds. We are confident that we can maintain our longer-term momentum, despite the subdued markets in the short term.

“Overall, the strength of our strategies, the effectiveness of our distribution and our scalable platform, supported by our robust financial foundations, give us confidence in Miton’s future.”

China sneezes with Europe confined to bed

Barron says that due to funds being UK-domiciled and the majority of its clients being UK-based means that many of the immediate post-Brexit concerns which its larger competitors may be wrestling with do not impact its operations. It believes that despite Brexit introducing “significant uncertainty”, opportunities may arise once there is greater clarity on the UK’s future relationship with the European Union.

Last year saw Miton’s net flows into equity funds becoming “increasingly diversified” with newer funds contributing significantly to net inflows. The AUM of the LF Miton US Opportunities fund, launched in 2013, increased by 41 per cent to end the year at £537m, while the LF Miton European Opportunities fund, launched in December 2015, ended the year with £364m of AUM, an increase of 101 per cent during the year.

Earlier this year, Money Marketing spoke with Miton senior executive director Gervais Williams, who admitted that when a fund sees huge inflows it can be more difficult to manage.

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