Miton Group Plc AuM Update (2934F)

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RNS Number : 2934F

Miton Group Plc

12 July 2019

MITON GROUP PLC

HALF YEAR AuM UPDATE

Miton Group plc (the 'Company' or 'Group'), the AIM quoted fund management group, today provides its unaudited statement of Assets under Management ('AuM') for the half year ended 30 June 2019 (the 'Period').

Highlights

   --      Half year closing AuM of GBP4,724 million (31 December 2018: GBP4,376 million) (+8.0%) 
   --      Average AuM for the Period was GBP4,601 million (2018 H1: GBP4,126 million) (+11.5%) 
   --      Net outflows of GBP82 million in the Period (2018 H1: Inflows of GBP616 million) 
   --      GBP23 million of cash balances as at 30 June 2019 (30 June 2018: GBP21 million) 

Assets under Management

 
 
                      Opening                                                  Closing 
                          AuM       Q1       Q2     Half year       Market /       AuM 
                        1 Jan      Net      Net           Net     investment    30 Jun 
                         2019    flows    flows         flows    performance      2019 
                         GBPm     GBPm     GBPm          GBPm           GBPm      GBPm 
 
   Equity funds^        3,015       42     (45)           (3)            372     3,384 
 Multi-asset 
  funds                   847     (37)     (43)          (80)             57       824 
 Investment trusts        514        -        1             1              1       516 
 
   Total                4,376        5     (87)          (82)            430     4,724 
 
 

^ includes segregated mandate

David Barron, Chief Executive Officer, commented:

"The Group has seen its AuM increase by GBP348 million in the Period to close at over GBP4.7 billion. In common with much of the industry, we experienced outflows from our UK equity funds reflecting both the wider concerns about the UK market and the divergence in returns from different parts of the market, post the 2016 Brexit vote. Our funds are actively managed and at times their performance will differ from peers and the wider market.

By offering a wider range of strategies the Group continues to diversify the business and its revenue streams. At the Period end, for the first time, the Group had four investment teams each managing AuM in excess of GBP600 million. These and our other strategies have further scope for growth having established critical mass and strong performance track records."

The Group will announce its results for the half year to 30 June 2019 on 23 September 2019.

ENDS

For further information, please contact:

 
 Miton Group plc 
  David Barron, Chief Executive Officer                   020 3714 1500 
 MHP Communications 
  Reg Hoare / Charlie Barker / Robert Collett-Creedy      020 3128 8147 / [e-mail] 
 Liberum (Nominated Adviser and Broker) 
  Neil Patel / Cameron Duncan                             020 3100 2000 
 N+1 Singer (Joint Broker) 
  Tom Salvesen                                            020 7496 3000 
 

www.mitongroup.com / @Miton_AM

Notes to Editors:

Miton Group plc (referred to as the 'Company' or 'Group'), is an equity and multi-asset fund management specialist. As at 30 June 2019 the Group managed GBP4,724 million of assets across eleven OEICs, two unit trusts, three investment trusts and one segregated mandate.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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July 12, 2019 02:00 ET (06:00 GMT)