Total net inflows in the six months to 30 June 2018 were £616m compared with £195m in 2017, according to an unaudited half year update from the boutique fund group.
The boutique manager has now seen seven consecutive quarters of positive net flows, signalling that its recent days of redemptions are behind it.
The exit of heavyweight duo George Godber and Georgina Hamilton in 2016 triggered mass outflows from its UK Value Opportunities fund, during which time its multi-asset range was also hit by redemptions.
Following the update, its shares were trading 12% higher at 63p per share.
The group closed out the first half of the year with assets under management at £4.5bn, up 35% from £3.4bn over the same period in 2017.
Its single strategy funds, which are all focused on equities, once again led the charge in AUM growth, climbing from £2.4bn at the beginning of the year to £3.0bn as at 30 June 2018.
Miton’s multi-asset funds, meanwhile, took in £108m of positive net flows, which took AUM to £929m. But its investment trust products lost money over the period, with redemptions totalling £27m.
The group has continued beefing up its multi-asset range, launching a balanced portfolio at the start of the year.
Over the first six months of the year, the boutique manager also unveiled its second North America-focused vehicle under Nick Ford and Hugh Grieves.
CEO David Barron (pictured), who took the helm last year, said the positive net inflows prove Miton’s “genuinely active strategies have increasing relevance”.
Coupled with the “continued strong organic growth and momentum within the business,” Barron said, “the outlook for the financial year as a whole is encouraging.”
Miton’s half year results will be published on 24 September 2018.
