Proactive Investors - Run By Investors For Investors

Miton Group under pressure as volatile equity markets hit inflows

Net inflows dropped to £92mln from over £300mln in each of the previous three quarters
Trading screens
Fourth quarter took the gloss of Miton's year

Weak equity markets have taken a toll on small-cap fund manager Miton Group PLC (LON:MGR) with a sharp slowdown in new money incoming in the final months of last year.

Funds under management rose 14% to £4.4bn in 2018 but a £1bn inflow of new money was countered by a £466mln decline in the value of Miton’s portfolio of funds, all of which was in the final three months.

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

Net inflows also dropped to £92mln from over £300mln in each of the previous three quarters.

Earnings for the 2018 year are expected to be in line with expectations but brokers have said they will cut forecasts substantially for 2019 as the weak fourth quarter washes through.

Peel Hunt expects to lower its 2019 estimate by 15-20% though it adds Miton did still generate inflows in its fourth quarter which was a strong result given outflows seen elsewhere.

The broker has cut its share price target to 60p from 73p.

Shares fell 6% to 49.5p.

View full MGR profile View Profile

Miton Group PLC Timeline

Newswire
January 14 2016

Related Articles

PCF
December 05 2018
“I think we’re a different generation of bank that is a lot quicker on our feet, a lot quicker at reacting to what customers want and are a lot more attractive to the savings market,” PCF boss Scott Maybury said
S&U
March 12 2019
"Over the past 25 years, S&U has consistently demonstrated its ability to adapt to the kinds of economic and political uncertainty we all currently face," said chief executive Anthony Coombs.
CSE head office in Toronto
January 01 2019
Capital raised on the CSE set to increase over 500% by the end of 2018

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use