Miton reopens UK Multi-Cap Income fund

Miton Group has reopened its UK Multi-Cap Income to new investors after imposing an initial charge last year.

Miton's managing director Gervais Williams (pictured), placed an initial charge on his fund last November when it was £182m in size. Since then, the fund has continued to accumulate assets and now stands at £355m, despite the charge of 3%.  However, Miton has now removed this and said the fund has capacity for another £60m of investment from new and existing investors. Once this level has been reached, it will reimpose the initial charge. A spokesperson for Miton said the charge had previously been imposed to control the rate of inflows and enable Williams to preserve performance o...