Miton Group results draw market interest

AIM-listed asset management outfit Miton Group (LON:MGR) said that its AUM climbed by 14% to £4.37 billion during 2018, with net inflows up by 106%. Adjusted pre-tax profits rose by 34% and shares in the company were up by 11.73% at 58.10p as of 14:30 this afternoon.

Chief executive David Barron commented: “2018 was a year of positive progress for Miton. Record net flows of just over £1 billion demonstrated the appeal of strategies that are genuinely active. We have continued to broaden the business as evidenced by the strong growth in our newer funds.

“We are confident that we can maintain our longer-term momentum, despite the subdued markets in the short term.

“Overall, the strength of our strategies, the effectiveness of our distribution and our scalable platform, supported by our robust financial foundations, give us confidence in Miton’s future“.