Miton revises remuneration structure to 'ensure fund manager retention'

AUM on UK Value Opportunities fund has fallen

Miton Group is putting into place a revised remuneration structure to ensure fund manager retention, just months after star fund managers George Godber and Georgina Hamilton left the firm for Polar Capital.

In its half-year results for the six months to 30 June 2016, the board said it "recognises the importance of ensuring the retention and reward of high-quality individuals as a key part of the overall strategy for growth". It added the current fund manager retention and incentive arrangement will be discontinued as the principal reward and retention mechanism for new fund managers and for those where no value has been accrued to date. As a result, the board is putting in place, from the second half of 2016, a new remuneration structure which is better aligned to current market practice...