Miton prepares for triple fund launch in 2013 as AuM rise 7%

Miton Group has announced a 7 per cent rise in assets under management as it plans a trio of fund launches in 2013.

The boutique’s assets rose to £1.79bn at 31 December 2012, up from £1.67bn 12 months earlier, with the group citing inflows into its largest collective funds despite their defensive positioning.

Miton says this contrasts with outflows from its former Midas funds. On 24 January, the asset manager received final approval to rebrands its funds from MAM Funds plc to Miton.

The board of Miton expects the group’s adjusted profits to finish ahead of analysts expectations – which stand at £3.4m. The group says total cash at the end of 2012 stood at £12m.

The group has also confirmed plans to launch three global equity funds in 2013 following the hires of Nick Ford from Fidelity, George Godber and Georgina Hamilton from Matterley and ex Herald Investment Management fund manager Hugh Grieves.

Miton says these funds will have distinct strategies in the UK mid and large cap and US multi-cap sectors.

Miton executive chairman Ian Dighe says: “Miton has had a very active and profitable year. We have stepped up the investment in and the trajectory of the business and expect to continue this strategy in 2013. Our refocused and expanded range of funds, and talented fund managers, are building a strong platform for growth.”