(Alliance News) - AIM-listed fund manager Miton Group PLC said Friday its assets under management rose over the first nine months of 2019, on a stronger market and investment performance.
Assets under management as at September 30 was GBP4.68 billion, down 3.9% from GBP4.87 billion the same date the year before, but up 7.0% from GBP4.38 billion at the start of the period on January 1.
This was due to a GBP427 million contribution through Miton's market and investment performance across the period, mainly through its equity funds.
Miton reported net outflows of GBP121 million in the nine-month period, compared to inflows of GBP927 million in the prior year period.
"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. At the period end, the group has four portfolio management teams each managing in excess of GBP750 million," said Chief Executive Officer David Barron.
"On October 9, 2019 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 November 14, 2019," Barron added.
Shares in Miton Group were down 2.6% at 53.10 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
