23rd Jul 2012 07:00
23 July 2012
MAM FUNDS PLC
HALF YEAR TRADING UPDATE
NOTICE OF RESULTS
MAM Funds plc ('MAM' or 'the Group'; ticker: MMF.L), the AIM quoted fund management group today announces a trading update for its half year ended 30 June 2012 together with an update of its unaudited statement of assets under management (AUM) as at 30 June 2012.
The Board is pleased to report further net positive inflows of funds during the first six months of the year and that trading is in line with its expectations. This was despite the significant headwinds that the fund management industry faced in the period.
As at 30 June 2012 the Group's AUM were £1,724 million - an increase of £58m (3.5%) on the 2011 year end position. This included net flows into the Funds business in each of the first two quarters.
Following the payment of the dividend in May, cash balances were £10.1m at the half year end (30 June 2011: £9.3m). We continue to invest in growth initiatives and our fund management platform, having scaled up our marketing capability during the period.
Unaudited Statement of Assets under Management
Opening AUM 1 Jan 2012 £m | Other including markets £m | Closing AUM 30 Jun 2012 £m | ||||
Inflows £m | Outflows £m | Net Flows £m | ||||
Funds | 1,457 | 236 | (202) | 34 | 18 | 1,509 |
Investment trusts | 127 | - | - | - | 3 | 130 |
Other | 82 | - | (1) | (1) | 4 | 85 |
Total | 1,666 | 236 | (203) | 33 | 25 | 1,724 |
Notice of results
MAM Funds will announce its half year results to 30 June 2012 on Monday, 24th September 2012.
Ian Dighe, Executive Chairman of MAM Funds commented:
"MAM has had a busy first half. I am particularly pleased that since the half year end, investors have increased their support of the Diverse Income Investment Trust PLC with a C share issue following on from its April 2011 IPO, taking the Trust to in excess of £80m.
"We have increasing confidence in the quality of our platform and our ability to grow the Group."
Notes to editors
MAM Funds plc (MAM) is a leading multi-asset fund management specialist, incorporating Midas Capital Partners and Miton Asset Management fund brands. Both companies are wholly owned subsidiaries of MAM.
Founded in 2001, MAM represents the combined talents and experience of Midas Capital Partners and Miton Asset Management creating a fund management group driven by global asset allocation under the investment direction of Gervais Williams. The group's fund management teams have a wealth of experience and have won numerous industry awards for their innovative investment processes and performance.
In 2004, MAM joined the Alternative Investment Market. Members of the fund management team invest in their own funds and are significant shareholders in the group. MAM has offices in Liverpool, London and Reading.
www.mamfundsplc.com
Important information
MAM is a trading name of Midas Capital Partners Limited (reg. no. 4325961) and Miton Asset Management Limited (reg. no.1949322) each incorporated and registered in England and Wales (with their registered office at 10-14 Duke Street, Reading, Berks. RG1 4RU) and authorised and regulated by the Financial Services Authority.
For further information, please contact:
MAM Funds plc
Ian Dighé, Executive Chairman
Robert Clarke, Group Finance Director & Director of Operations Tel: 0118 338 4000
Peel Hunt LLP(Nominated Adviser and Broker)
Guy Wiehahn / Andy Crossley Tel: 020 7418 8900
MHP Communications
Reg Hoare/ Simon Hockridge Tel: 020 3128 8100
Related Shares:
MGR.L