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Miton assets under management rise ahead of merger with Premier AM
11th Oct 2019 10:50
(Sharecast News) - Fund management company Miton Group reported closing assets under management of £4.68bn as at 30 September in its third quarter update on Friday, rising 7% from £4.38bn on 31 December.
The AIM-traded firm said the average assets under management figure for the nine month period was £4.64bn, which was 7.4% higher than the £4.32bn figure quoted at the same time last year.
Net outflows totalled £121m for the period, swinging from net inflows of £927m in the first three quarters of 2018.
"Since the half year, further progress has been made in the diversification of the group with strong demand for our non-UK focused equity funds," said chief executive officer David Barron.
"At the period end, the group has four portfolio management teams each managing in excess of £750m."
Barron noted that, on 9 October, a special resolution was passed approving the all-share merger with Premier Asset Management Group.
"The merger is now subject to regulatory approval and also sanction from the court, which is expected on 14 November."
The AIM-traded firm said the average assets under management figure for the nine month period was £4.64bn, which was 7.4% higher than the £4.32bn figure quoted at the same time last year.
Net outflows totalled £121m for the period, swinging from net inflows of £927m in the first three quarters of 2018.
"Since the half year, further progress has been made in the diversification of the group with strong demand for our non-UK focused equity funds," said chief executive officer David Barron.
"At the period end, the group has four portfolio management teams each managing in excess of £750m."
Barron noted that, on 9 October, a special resolution was passed approving the all-share merger with Premier Asset Management Group.
"The merger is now subject to regulatory approval and also sanction from the court, which is expected on 14 November."