Miton returns to net inflows in first half after 'difficult' 2014

Miton Group has seen a return to net inflows in the first six months of 2015, helped by demand for its UK Value Opportunities fund, after significant outflows last year.

The AIM-listed asset manager continued to suffer net outflows in Q1, but inflows picked up in the second quarter of the year. Over the period as a whole, the group reported net inflows of £10m, which contributed to AUM rising from £2.05bn at the start of the year to £2.23bn at the end of June. Miton said its closing AUM was in line with its expectations, although it had anticipated "a more material proportion from net flows". The firm's move to net inflows is in contrast to last year, when it reported a pre-tax loss of £5.5m, as it suffered £503m in outflows from its multi-asset fu...