Miton Group has reported a 34% jump in adjusted profit before tax in 2018, while net inflows more than doubled from the previous year to break the £1bn milestone.
The firm's adjusted profit before tax jumped from £6.8m in 2017 to £9.2m in 2018, while profit before tax was 43% higher at £8.9m. Total assets under management at the end of 2018 were 14% higher than at the start of the year at £4.4bn, while by the end of February 2019 they had risen further to £4.6bn. The growth in AUM was driven by strong inflows of over £1bn during the year, more than double the £494m taken in during the previous year. The LF Miton UK Multi Cap Income fund was particularly successful, taking in £400m, which brought total assets up to £1.3bn; overall, the equi...
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