(Sharecast News) - Fund management company Miton Group reported closing assets under management of £4.68bn as at 30 September in its third quarter update on Friday, rising 7% from £4.38bn on 31 December.
The AIM-traded firm said the average assets under management figure for the nine month period was £4.64bn, which was 7.4% higher than the £4.32bn figure quoted at the same time last year.
Net outflows totalled £121m for the period, swinging from net inflows of £927m in the first three quarters of 2018.
"Since the half year, further progress has been made in the diversification of the group with strong demand for our non-UK focused equity funds," said chief executive officer David Barron.
"At the period end, the group has four portfolio management teams each managing in excess of £750m."
Barron noted that, on 9 October, a special resolution was passed approving the all-share merger with Premier Asset Management Group.
"The merger is now subject to regulatory approval and also sanction from the court, which is expected on 14 November."
24 Jan 2014 10:11
Miton Group proposes sale of Liverpool fund management business
Miton Group has proposed the sale of its Liverpool fund management business Miton Capital Parners to Seneca Investment Managers for up to 6.4m pounds. The move comes after a review of the Liverpool arm showed there was "less prospect of rapid growth" of assets under management compared to other are
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