The investment house, which is home to star smaller companies manager Gervais Williams, has spoken to its investors following a review of its existing incentives.
Miton wants to issue growth shares to its fund managers in order to support the firm’s profitability, and hopes to link the value of the shares to increases in revenue, as well as its assets under management within specific divisions of its fund management arm.
Unveiling the plan to shareholders, Miton’s Ian Dighé, its executive chair, said the new incentive plan would allow fund managers to share in the growth of the profits and assets they were responsible for, and help ensure that Miton meets its longer term objectives.
“The success of the group will largely depend on its ability to retain, attract and motivate high quality individuals,” Dighé said, adding that the details of the plan would be put to a shareholder vote at Miton’s upcoming AGM.
Star line up
As well as being home to smaller companies ace Williams, Miton’s line up of highly regarded fund managers includes Nick Greenwood, who runs the CF Miton Worldwide Opportunities Fund
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, and Bill Mott (pictured), who joined the fund house as part of its £13m acquisition of Psigma Asset Management.
After the deal was struck in July Miton has £2.8 billion in assets under management, and according to its last set of results for the six months ended 30 June, the firm’s adjusted profit is around the £1.8m mark.
