Miton plans raft of launches as AUM nears £2bn
Miton Group – Gervais Williams’ fund management company – has announced plans to launch a range of UK equity funds after a positive year for the group which saw assets climb towards £2bn.
Miton – formerly known as MAM Funds prior to a re-brand – saw AUM grow 7.2% to £1.79bn in the last year, while also moving into profitability.
Having made a loss before tax of £0.4m in 2011, the group has reversed this to make a profit of £0.9m in 2012.
The group made a number of acquisitions last year, including hiring SWIP’s US manager Nick Ford (pictured).
Ford is to run a US Opportunities fund for the group, alongside Hugh Grieves, but today Miton announced a further expansion of its fund range.
In its update to the market it said: “We aim to build upon the success of our UK equity funds with the launch of new equity funds.
Miton said the new funds would have distinctive equity strategies in the UK mid & large cap space, and would sit alongside the recently launched US Opportunities fund.
Ian Dighé, executive chairman said: “Miton has had a very active and profitable year. We have stepped up the investment in, and the trajectory of, the business and expect to continue this strategy in 2013. Our refocused and expanded range of funds, and talented fund managers, are building a strong platform for growth.”
This article was first published on Investment Week