Miton sees 'renewed momentum' with 36% AUM growth

Stronger second half

Miton Group has reported 36% growth in assets under management over 2015, after a difficult 2014, but adjusted pre-tax profits were down 43%.

For the year ended 31 December 2015, the firm said assets under management were £2.7bn, up from £2.3bn at the end of August and £2.05bn at the end of 2014. This increase was helped by £463m in net inflows, a reduction in redemptions and gross sales of over £1bn. This has helped the firm move back into the black in terms of profits before tax, which were in positive territory at £2.1m, compared to a £5.5m loss for the previous year. However, adjusted pre-tax profit fell 43% to £3m, down from £5.3m in 2014. Miton said this was due to lower-than-average assets under management duri...