Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Miton multi-asset funds see near £200m redemption in H1

Miton multi-asset funds see near £200m redemption in H1

Almost £200 million has been withdrawn from Miton’s Multi-Asset funds during six months which included the departure of former manager Martin Gray and his replacement by David Jane (pictured).

The redemptions from the range reduced the group’s net inflows for the period to £29 million, mostly driven by demand for the company’s equity range, it said in a trading statement.

Disregarding the sale of Miton Capital partners earlier this year, like-for-like assets under management were flat over the six months and rose from £2.3 billion to £2.6 billion over the year.

Profit was likely to be ‘well ahead of the prior year’ however.   

‘In the first six months Miton successfully addressed two key objectives with the sale of the Liverpool business and the appointment of David Jane to manage our multi-asset funds,’ said executive chair Ian Dighe.

‘Miton is in a strong position with a highly regarded roster of fund managers, a rising profile amongst our clients, scalable systems and growing profitability and cash generation.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter