Miton to shut American and Global Equity funds

Decision made due to uneconomical size

Miton is to close its American and Global Equity funds following an internal review.

The firm will hard close its American fund run by James Abate (pictured) and the Global Equity fund run by Xavier Smith on 30 October. Both funds had been outsourced to New York-based Centre Asset Management, and were the only outsourced investment products offered by the group. Miton profits fall in first half but inflows remain strong Miton's head of sales and marketing Ian Chimes said the decision to hard close the products was made due to the uneconomical size of the funds and follows an internal review. The American fund is just £13m, while the Global Equity strategy is £15m...