Milford Funds fee income jumps after stellar year, growth in managed funds

Fri, 10 Aug 2012

By Jonathan Underhill Aug. 10 (BusinessDesk) - Milford Funds, a unit of Milford Asset Management that discloses its financial results, reported a jump in annual fees, driving up profit, as growth in funds under management and improved results lifted performance fees. Profit rose to $1.05 million in the year ended March 31, from $119,509 a year earlier, according to the Auckland-based company’s financial statements. Fees, its principal source of funding, jumped to $5.3 million from $1.76 million. Expenses climbed to $3.87 million from about $...

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