Miton targets return to growth after £700m net outflow in 2014

Miton Group lost a third of its assets under management over the course of last year, as a result of selling off part of its business and continued outflows.

The group's AUM dropped over £1bn during 2014, from £3.1bn at the end of 2013 to £2.05bn by the end of December. Part of this decline was due to the sale of its Liverpool-based business, which had £438m under management, to Seneca Investment Managers. However, total net outflows from Miton's funds during the year were £701m, with £503m of this coming from its underperforming multi-asset funds. Yet the group is optimistic the acquisition of Darwin Investment Managers and its multi-asset expert David Jane (pictured) will boost inflows in the future, as he helps correct the performanc...