Ian Dighé, Chairman of Miton Group LON:MGR, said: “The business has demonstrated its resilience with momentum regained since the half year. Gross sales during 2016 were in excess of £1.1bn which is a testament to the quality of our fund management team and a differentiated and attractive product offering”.
“Over the past year, Miton has continued to build its distinctive identity as a genuinely active fund manager. The acceleration of our growth over recent quarters underlines our confidence in our prospects. Miton has an outstanding team, and along with a maturing range of funds, having reached £3,097m AuM at the end of February, we look forward to 2017 and beyond.”
Miton Group plc LON:MGR the AIM quoted asset management group, today gave DirectorsTalk its final results for the year ended 31 December 2016.
2016 Results
· £2,905 million closing Assets under Management (AuM), up from £2,784 million at the start of 2016.
· Average AuM up by 20% for the year at £2,783 million (2015: £2,319 million).
· Net management fee margin maintained.
· Adjusted profit before tax increased by 70% to £5.1 million for the year.
· Proposed dividend of 1.0p, up 49% reflecting confidence in future prospects and momentum in AuM.
· Group remains robustly financed with total cash of £21.0m up 51%.
Fund highlights
· The multi-asset fund range grew by 41% to end the year at £672 million.
· The CF Miton US Opportunities Fund reached its three-year track record in March 2016 and has maintained first quartile performance since inception. AuM increased by 85% to end the year at £238 million.
· The CF Miton European Opportunities Fund was launched on 14 December 2015 and saw strong performance and AuM generation, ending the year at £82 million.
· 86% of funds are first or second quartile*.
* Since launch or manager tenure up to 31 December 2016
Current Trading
· £3,097 million closing AuM at 28 February 2017.
· New launch of a global infrastructure income fund on 23 March 2017.
|
|
2016 |
2015 £m |
% |
|
Closing AuM |
2,905 |
2,784 |
+4.3 |
|
Average AuM(1) |
2,783 |
2,319 |
+20.0 |
|
Net revenue |
19.0 |
15.7 |
+21.0 |
|
Adjusted Profit before tax(2) |
5.1 |
3.0 |
+70.0 |
|
Profit before tax(3) |
4.3 |
2.1 |
+104.8 |
|
Cash generated from operations |
8.5 |
2.4 |
+254.3 |
|
Total cash |
21.3 |
14.1 |
+51.0 |
|
|
pence |
pence |
% |
|
Adjusted earnings per share(4) |
2.67 |
1.43 |
+86.7 |
|
Diluted adjusted earnings per share(5) |
2.40 |
1.18 |
+103.4 |
|
Basic earnings per share |
2.14 |
0.92 |
+132.6 |
|
Proposed dividend per share |
1.00 |
0.67 |
+49.3 |
