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Miton stands up to the market with £1bn inflow

Miton stands up to the market with £1bn inflow

Miton attracted £1 billion worth of inflows during 2018, with its business standing strong in the fourth quarter volatility. 

The firm pulled in £92 million in the final three months of last year, when equity markets suffered severe falls on concerns of an escalation of a US/China trade war. 

To put Miton's performance into context, recent data from the Investment Association showed investors pulled £2.1 billion from UK funds in November, their worst showing since the Brexit referendum in 2016.

Miton registered inflows of £316 million, £300 million and £311 million in the first, second and third quarters respectively, lifting total inflows to £1.02 billion for the year. Assets under management rose from £3.8 billion to £4.4 billion. 

At 8.25am shares in the firm had risen by just under 1% to 51.99p.

Miton chief David Barron (pictured above) underlined the achievement: 'These flows are testament to the breadth of our fund management capability, the strength of our distribution and the attraction of genuinely active fund management. This growth has been achieved despite the impact of the weak market performance in Q4,' he said. 

Strong performance across the board was a major factor behind Miton's success. According to the group, 13 out of its 16 funds were first or second quartile performers under their current managers at the end of the year. 

One of the most popular funds with investors was Gervais Williams and Martin Turner's LF Miton UK Multi Cap Income fund, which is the best performing UK Equity Income fund since its launch in October 2011, according to the group. Assets under management in this fund rose by 25% to £1.265 billion in 2018. 

Miton also highlighted its European Opportunities fund, managed by Citywire AAA-rated Carlos Moreno (pictured below). The fund sits top of its peer group on its three-year anniversary with a 50.3% return and attracted £210 million worth of inflows during the 2018, lifting total assets to £364 million. 

Miton also noted its new US Smaller Companies fund, run by Nicholas Ford and Hugh Grieves, is top of its sector since its launch in March. Interest in this fund help assets run by the firm's UK equity team rise by 64% to £626 million. 

Barron is confident his firm can continue to deliver amid market uncertainty.

'Miton has positive business momentum and is well placed as we enter 2019, despite uncertainties in global stock markets,' he said. 'Our funds are highly relevant for the changing UK market and we are a resilient business that is increasingly diversified with proven distribution capabilities.'

 

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Martin Turner
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60/91 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 15.42%
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