Source - SMW
Miton, the fund management group, grew its assets under management (AUM) by 32% to £3,823 million during 2017.

There was a £494 million contribution from net inflows compared with £1 million the year before.

The average AUM for the year was £3,361 million, a year-on-year increase of 21%.

Cash balances totalled £19.9 million at 31 December 2017, down from £21.3 million a year ago.

Overall financial performance is expected to be at least in line with management expectations.

David Barron, chief executive officer of Miton, said: "In my first year as CEO, we have built momentum in the group and broadened the business both in terms of client base and product, whilst intensifying our client centric approach. By offering a strongly-differentiated range of multi-asset and single strategy funds and positioning them as complementary to index based strategies, we are well-placed for the changes taking place in the UK asset management market. We have achieved strong investment outcomes for our clients and are building a resilient and diversified business.

"These factors have come together in a year of accelerated organic growth and strong cash generation, with record year end AuM and a robust cash position. As we enter 2018 our business momentum remains strong and we are a more balanced business than ever. We are well positioned for the future." 

At 8:15am: (LON:MGR) Miton Group Plc share price was +0.75p at 40.75p