Williams sees scope for the £58.6 million fund, which was launched in December 2012, to become 'considerably larger'. This could lead Miton to soft-close the fund because of its bias towards micro caps.
'We could see the fund going up to £300 million and once it gets there then we can give a bit more of a steer over when we will close it. We are willing to close funds to make sure their integrity is not damaged by being too large,' Williams said.
The UK Smaller Companies fund is top of its sector on a total return basis over one year, according to Citywire data. It posted a 56.7% return, compared to a 40.5% rise by the FTSE Small Cap index.
At the start of November, the group indicated it would close the then £256.8 million UK Multi Cap Income fund to new investment following strong inflows.
However, Williams added the group will be looking to grow the £50.8 million UK Value Opportunities fund, which is principally mid and large cap.
'It's such an unusual fund. There are quite a lot of growth and income funds but there are very few value funds although there is a huge market in the US so we see that becoming considerable larger,' he said.
Miton's full-year results showed assets leapt by 73.5% in 2013, aided by its acquisition of PSigma.