The AIM-listed group saw average funds under management increase to £1.7bn, from £1.6bn in 2010.
Ian Dighé, executive chairman of the firm, said: "In a highly undifferentiated market, our approach to delivering value for our clients is distinctive. Through a keen focus on managing the downside risks of volatile assets, as well as participating in the upside, Miton Special Situations and Miton Strategic have delivered consistent long-term track records."
Gray has managed both funds since their inception, 14 years ago and 15 years ago respectively.
Dighé added: "These funds are unusual in their willingness to invest in a mix of assets that are very different from the consensus, and especially in their attention to investing in asset classes with low volatility at times of market stress."
In its latest factsheet, the Miton Special Situations Fund had outperformed the sector average over one year, five years and 10 years, but lagged over a three-year timeframe. Since launch it has returned 286%, compared to 92% from the sector.
Meanwhile the Miton Strategic Fund has outperformed over the same time frames as the Special Situations Fund, but also has a blip over three years compared to the sector.
At the other end of the spectrum, MAM’s Midas funds saw redemptions during the year, although Dighé said he believed they were increasingly successful at managing volatility also.
The group, which is generating over £3m per annum, has decided to return its dividend for the first time in four years, paying 0.4p per share.
