Miton reports AUM drop in H1 despite multi-asset strength

Outflows following departure of Godber and Hamilton

Miton Group has reported a fall in assets under management in the six months to 30 June, as outflows from its UK Value Opportunities fund offset strong inflows into its multi-asset fund range.

In its half-year results released this morning, closing AUM for 30 June was £2.5bn, down from £2.8bn reported at the end of December 2015. The group said significant net inflows seen in the first quarter were offset in Q2 primarily due to the outflows from its UK Value Opportunities fund, which was managed by George Godber and Georgina Hamilton until their departure in April. Since leaving for Polar Capital, the UK Value Opportunities fund, which is now run by former EdenTree man Andrew Jackson, has fallen from an AUM of £870m to £360m, according to FE. Meanwhile, AUM in the multi-...