Miton plans initial charge on UK Value Opps fund after strong inflows

Initial charge will be implemented if fund reaches capacity

Miton is amending the prospectus of its UK Value Opportunities fund to allow for the introduction of an initial charge after seeing inflows of over £450m since the start of the year.

The UK equity fund's assets under management have risen from £152m at the end of 2014 to £618m at the end of November. As a result, Miton is amending the prospectus of the fund to allow for an initial charge to be applied to the fund in the event of needing to stem flows as it approaches capacity. This would be a charge of 5% on the B share class and Miton said a likely capacity limit would be £1.2bn, although this was subject to review nearer the time. In Miton's first-half results in September, the firm said the fund was a key driver in the increase in its assets under management...