The growth in AUM was both the result of increased fund flows (£494m) and market/investment performance (£424m), with 13 out of 15 of Miton’s funds recording first or second quartile performance since manager tenure to 31 December 2017.
Of the £494m of inflows, £361m went into the group’s range of equity funds, £127m into its multi asset funds and £6m into its investment trusts.
The average AUM for the year stood at £3.36bn, which is 21% ahead of the average for 2016 which stood at £2.78bn.
Commenting on the growth, David Barron, chief executive officer of the Miton Group, 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.”
