Darwall exit drives ‘disappointing’ outflows at Jupiter
FTSE 250 fund house joins trio of asset managers hit by outflows this quarter
FTSE 250 fund house joins trio of asset managers hit by outflows this quarter
Miton stock price still well shy of Q4 2019 peak
European equity duo on surviving an industry overrun by algorithms and computers
David Barron predicts US and European funds will attract the most flows in 2019
Total net inflows see a near threefold increase year-on-year
Investors have pulled £9.6bn from UK equity funds since UK voted to leave the EU
Jupiter and Invesco Perpetual have recently added new products to their multi-asset ranges
Miton US Opportunities fund manager Hugh Grieves sold out of Faang stocks three years ago on stretched valuations and argues even if they are great businesses, they may not deliver for shareholders.
Miton has teased significantly higher inflows over the first half of the year, as the fund group’s recovery continues.
Schroders and Miton are believed to be among the shareholders backing Martin Sorrell’s comeback to the London stock market weeks after his resignation from WPP amid personal misconduct allegations.
Miton chief executive David Barron has dismissed extending tiered fees on investment trusts to the boutique manager’s open-ended range, arguing fixed ad valorem fees are easier to understand.
Miton’s latest annual results show sales at the boutique firm recovering in 2017 compared to the previous year, when the departure of star fund manager duo George Godber and Georgina Hamilton led to significant outflows.