At a general meeting earlier this week, shareholders approved the brand change to Miton Group.

“There is an ever greater need to differentiate our offering now that many fund managers are seeing outflows. We are unifying our funds under the Miton brand name to clarify our distinctive proposition for investor clients,” the firm said in a statement.

In 2012 the firm reviewed its product range, launching two new funds: the CF Miton Global Diversified Income Fund and the CF Miton UK Smaller Companies Fund. It also merged two small funds into two larger ones, becoming the CF Miton UK Multi Cap Income Fund and the Miton Global Opportunities and CF Miton Total Returns Funds.

This year, Miton aims to build on its UK equity funds with the launch of three new vehicles. This follows the recent hire of Hugh Grieves, who will co-manage the CF Miton US Opportunities Fund with Nick Ford.

Grieves was latterly at Herald Investment Management, where he managed the Herald Worldwide Fund. Prior to this he worked for Société General Asset Management and Gartmore Investment Management, managing a number of US equity and technology funds.

Meanwhile, in its financial results for the year ended 31 December 2012, Miton recorded assets under management of £1.79 billion (around $3 billion), a 7 per cent increase compared to 2011.

“Our new equity funds gathered momentum during 2012 from start up some 20 months ago due to superior investment performance and lower than average volatility,” the firm said in a statement.

In addition, the board expects adjusted profit before tax for the year ended 31 December 2012 to be ahead of market expectations of £3.4 million. Total cash at the year-end stood at £12.0 million (2011: £9.9 million).

Miton Group manages £1.8 billion of assets, including nine OEICs, three investment trusts and segregated client accounts under the Miton brand.