George Godber and Georgina Hamilton to exit Miton Thursday 07 Apr 2016

George Godber and Georgina Hamilton to exit

Shares in Miton Group have fallen 28% this morning after the announcement that managers George Godber and Georgina Hamilton will be leaving the firm and it is understood that they will be joining Polar Capital.

Shares in the AIM-listed asset manager fell from 34.7p at the close last night to 25p this morning.

The share price remains up 4% over the past year and the firm's performance has strengthened in recent months, reporting pre-tax profit of £2.1m in 2015 compared to losses of £5.5m in the previous year. 

Assets under management rose 36% to £2.7bn in 2015 and much of this was helped by inflows into Godber and Hamilton's UK Value Opportunities fund which was launched in March 2013. 

The pair joined Miton at the end of 2012 from Matterley, which was co-founded by Godber, and the fund has rapidly gained assets since its launch.

It is currently £869m in size, leading to the possibility of an initial charge being imposed once the fund reaches capacity - believed to be around £1.2bn.

The multi-cap fund, which looks for opportunities in less well covered areas of the UK equity market including unlisted names and AIM stocks, has been noted for having strong risk-adjusted returns, as well as low annualised volatility.

Godber, who is lead manager, has a notice period of one year while Hamilton, who featured in Investment Week's Top Managers Under 35 list last year, can leave after six months.

http://www.investmentweek.co.uk/investment-week/news/2453704/miton-uk-equity-duo-to-depart-firm