LONDON (Alliance News) - Fund manager Miton Group PLC said Wednesday that a tripling in net inflows in the first half of 2018 helped to increase its assets under management.
Assets under management as at June 30 stood at GBP4.54 billion, up 35% from GBP3.35 billion the year before, which comprises GBP616 million in net inflows, more than triple from GBP195 million the year before, and GBP100 million added by market and investment performance.
During the period, Miton expanded its fund range with the launch of the LF Miton Balanced Multi Asset Fund in January and the LF Miton US Smaller Companies Fund in March.
"The first half of the year saw continued strong organic growth and momentum within the business. We have seen positive net inflows across a wide range of strategies and good long-term performance," said Chief Executive Officer David Barron.
"The outlook for the financial year as a whole is encouraging," Barron added.
Shares in Miton Group were up 6.0% at 59.88 pence on Monday.
