Miton profits dip but AUM increases by almost £1bn

New CEO David Barron's first

Miton has reported strong growth in assets under management (AUM) to £3.4bn in its interim results released this morning, though profit before tax is just shy of last year's figure.

During the six months to 30 June, the group posted positive flows across its equity, fixed income and investment trust products, totalling to £195m. Its newest vehicle, the Miton Global Infrastructure Income fund, which was launched in March, has seen good demand and now has AUM of £17.3m as at 31 August. Closing AUM for the whole group at the end of the period under review was £3.4bn, significantly higher than the £2.5bn figure at the same time in 2016, during which it saw the departure of high-profile fund managers George Godber and Georgina Hamilton for Polar Capital.  Miton se...