The success of fund launches in the past year, and top quartile investment performance from a host of Miton's funds, have been driving the recovery in the company's assets under management (AUM). In the third quarter to the end of September, AUM increased from £2.5bn to £2.8bn, around £80m ahead of the run rate predicted by house broker Stuart Duncan at Peel Hunt. Other funds gaining traction include Miton's European Opportunities Fund which has produced a total return of 26.9 per cent in the past six months, or 12.5 per cent ahead of its benchmark. The fund now has AUM of £74m, having only launched in mid-December 2015.
Several of Miton's other funds continue to generate strong net inflows. CF Miton UK Multi-Cap Income Fund has increased AUM from £586m to £733m this year and has returned 129 per cent since launch in October 2011, a thumping 58 percentage points higher than its benchmark. CF Miton US Opportunities Fund continues to pull in new investors, too: AUM here have risen from £129m to £203m this year and the fund's one-year total return of 39 per cent is 8 percentage points higher than its benchmark.