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Almost £200 million has been withdrawn from Miton’s Multi-Asset funds during six months which included the departure of former manager Martin Gray and his replacement by David Jane (pictured).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
Play Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: Affinity’s Julia Warrander on the importance of diversity

1 Comment Profile: Affinity’s Julia Warrander on the importance of diversity

'Sometimes there are 10, sometimes 20 people around a table and, more often than not, I’m the only woman,' says the Affinity Wealth co-chief investment officer

Wealth Manager on Twitter