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Miton Group shares jump as it increases assets under management by 35%

The AIM-listed firm said for the half year ended 30 June 2018, its unaudited assets under management was £4,539mln, up 35% from £3,354mln at the same period a year ago

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“The outlook for the financial year as a whole is encouraging," said CEO Barron

Miton Group PLC (LON:MGR) shares rose on Monday as the fund management group reported it has increased assets under management (AUM) by 35% in the first half of 2018.

The AIM-listed firm said for the half year ended 30 June 2018, its unaudited assets under management  was £4,539mln, up 35% from £3,354mln at the same period a year ago.

READ: Activity brings rewards for fund manager Miton as inflows surge ahead

The company reported total net inflows of £616mln in the period, up from £195mln, while average AUM for the period was £4,126mln, up from £3,157mln.

Miton Group reported continued expansion of its fund range with the launch of the LF Miton balanced Multi Asset Fund and the LF Miton US Smaller Companies fund and said it has experienced seven consecutive quarters of positive net flows.

David Barron, chief executive officer of Miton Group, said: "The first half of the year saw continued strong organic growth and momentum within the business. We have seen positive net inflows across a wide range of strategies and good long-term performance.”

He added: “The outlook for the financial year as a whole is encouraging."

In lunch time trading, Miton’s shares rose 12.3% to 63.5p.

Quick facts: Miton Group PLC

Price: 56.1 GBX

AIM:MGR
Market: AIM
Market Cap: £96.85 m
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