Both pre-tax profits and assets under management increased by about one third in the reporting period.

UK asset management firm Miton Group has reported a 33 per cent rise in profit before tax at £6.8 million ($9.6 million) for 2017 (2016: £5.1 million). The firm logged a 32 per cent increase in its assets under management which stood at £3.8 billion, up from £2.9 billion at start of 2017.

Average AuM is up by 21 per cent for the year at £3.4 billion (2016: £2.8 billion). Miton also reported positive net inflows of £494 million across a range of its operations (2016: £1 million), it said in a statement yesterday.

The board is proposing an annual dividend of 1.4p (2016: 1.00p), which is an increase of 40 per cent.

“Positive net flows of £494 million demonstrated the appeal of our genuinely active investment strategies,” said David Barron, chief executive of Miton Group, said. “We have produced good long-term investment performance across a range of funds as well as making our operating platform even more efficient to grow the AuM”