Miton Group Plc AuM Update (4859D)

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RNS Number : 4859D

Miton Group Plc

10 October 2018

MITON GROUP PLC

AuM UPDATE

Miton Group plc (the 'Company' or 'Group'), the AIM quoted fund management group, today provides a quarterly update of its unaudited statement of Assets under Management ('AuM') for the nine months ended 30 September 2018 (the 'Period').

Highlights

-- 30 September 2018 closing AuM of GBP4,868 million (30 September 2017: GBP3,532 million) (+38%)

-- Total net inflows of GBP927 million in the Period (nine months to 30 September 2017: GBP312 million) (+198%)

-- Average AuM for the Period was GBP4,320 million (nine months to 30 September 2017: GBP3,252 million) (+33%)

Assets under Management

 
                     Opening                                 Nine                    Closing 
                         AuM       Q1       Q2       Q3    months          Market        AuM 
                       1 Jan      net      net      net       net    / investment    30 Sept 
                        2018    flows    flows    flows     flows     performance       2018 
                        GBPm     GBPm     GBPm     GBPm      GBPm            GBPm       GBPm 
 
   Equity funds        2,379      269      266      286       821             130      3,330 
 Multi-asset 
  funds                  839       61       47       23       131             (8)        962 
 Investment 
  trusts                 605     (14)     (13)        2      (25)             (4)        576 
 
   Total               3,823      316      300      311       927             118      4,868 
 
 
 

Progress

   --      Eight consecutive quarters of positive net inflows 

-- 13 out of 16 funds are first or second quartile performers since manager tenure to 30 September 2018(1)

David Barron, Chief Executive Officer of Miton Group plc, commented:

"It is encouraging to report that the Group has continued to see positive net inflows across a wide range of strategies and good long-term performance. The Group achieved the 9(th) largest net retail sales in the UK in the second quarter of 2018, as noted in the Pridham Report.

After a number of years where markets have risen strongly, several major markets have seen declines in 2018. Despite this background, Miton has achieved strong flows and with our range of genuinely active funds and strong distribution, we are well-placed for an environment where returns on all asset classes may be challenged by the end of quantitative easing and rising interest rates."

Notes

(1) The quartile performance rankings are based on Investment Association sector classifications, with data sourced from FE Analytics in GBP using Class B Shares, net income reinvested, mid to mid basis for OEIC funds and bid to bid for FP Miton Income and MI Miton Cautious Monthly Income funds. Performance for Investment Trusts is calculated on share price, ranked against Association of Investment Companies sector classifications, and is sourced from FE Analytics. All data is as at 30 September 2018.

ENDS

For further information, please contact:

 
 Miton Group plc 
 David Barron 
  Chief Executive Officer                        020 3714 1474 
 MHP Communications 
 Reg Hoare / Simon Hockridge / Charlie Barker    020 3128 8100 
 Liberum (Nominated Adviser and Joint 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 September 2018 the Group managed GBP4,868 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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October 10, 2018 02:00 ET (06:00 GMT)