MAM Funds reports net inflow in first half

MAM Funds has reported a boost to funds under management following net inflows in the first half of the year.

In a trading update for the year ended 30 June, the AIM-listed boutique said AUM has grown 3.5% or £58m over the period to stand at £1.724bn. Between January and June, the fund range saw a net inflow of £34m to reach £1.509bn in total AUM. Investment trusts saw a £3m net inflow to stand at £130m in assets. Following the payment of a dividend in May, cash balances were £10.1m at the half-year end, up from £9.3m this time last year. The group will announce its half-year results to 30 June 2012 on 24 September 2012. Ian Dighe, executive chairman, said: “MAM has had a busy first hal...