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In the ascent

Simon Thompson

Simon Thompson
In the ascent

It was difficult not to be impressed by the pre-close trading statement from asset manager Miton Group (MGR:36p). Average assets under management (AUM) increased by 20 per cent to £2.78bn over the course of last year even though the company suffered hefty redemptions at its flagship CF UK Value Opportunities Strategy Fund in the spring after star fund managers, George Godber and Georgina Hamilton, were poached by a rival ('Star asset managers poached from Miton', 7 Apr 2016). The board acted swiftly to find a replacement, but the fund still ended the year with AUM of £290m, down from £869m at the end of March.

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