Milford Funds reaps $19 million in annual fees as funds beat performance targets

Thu, 18 Jul 2013

By Paul McBeth July 18 (BusinessDesk) - Milford Funds, a unit of Milford Asset Management that discloses financial statements, more than tripled its fee income, driving up annual profit, as it reaped the benefits of strong investment returns on growing funds under management. Profit jumped to $7.36 million in the 12 months ended March 31 from $1.05 million a year earlier, as fee income surged 257 percent to $19.02 million, according to financial statements lodged with the Companies Office. Of that, the base management fee across Milford’s...

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