Miton Group has issued its H1 results, the highlights of which are as follows:
- £2,542 million Assets under Management (AuM), up from £2,225 million for the same period last year.
- £2,710 million AuM as at 31 August 2016. The multi-asset fund range AuM has increased by 7.1% since 31 December (excluding CF Miton Total Return Fund) to reach £487m as at 31 August 2016.
- Adjusted Profit before tax significantly higher at £3.1m, up from £0.8m in the same period last year.
- Net management fee margin maintained across the product range.
- Significant net inflows in the first quarter were offset in the second quarter primarily due to the outflows from the CF Miton UK Value Opportunities Fund.
- Andrew Jackson joined the Group on 27 June 2016 and assumed responsibility for the management of the CF Miton UK Value Opportunities Fund from 1 July 2016.
- CF Miton European Opportunities Fund had £71 million in AuM as at 31 August 2016 after being launched in December 2015. The fund has delivered top quartile performance since inception.
- £18.4 million net cash at 31 August 2016.