Miton Group (formerly, MAM Funds plc , formerly Midas Capital plc) is the ultimate parent company of a fund management group trading under the Midas, Miton and MitonOptimal fund brands. MDS is headquartered in Exeter, with offices in Liverpool, Guernsey, London, Reading and Cape Town. MDS was founded in 2001 by two Exeter based legal firms and a team of financial service industry professionals. Originally conceived as a private client investment manager, trading as iimia plc, it soon expanded both geographically and in the range and scale of activities offered. In August 2004 iimia plc merged with Exeter Investment Group plc, under a new parent company called iimia Investment Group plc and was admitted to AIM. September 2005 saw the acquisition of Intelli Corporate Finance Ltd although this was subsequently sold in September 2009. In July 2006 the group sold its' funds administration business, Sinclair Henderson to Capita Group plc. In October 2007 it completed the merger with the Reading and Cape Town based fund manager, MitonOptimal Group Ltd and the parent name changed to iimia MitonOptimal plc. In March 2008 we completed the merger with Midas Capital Partners Ltd, a Liverpool based fund management company, and the group name changed to Midas Capital plc. In January 2010 the group sold its' iimia Wealth Management division in order to concentrate on its' fund management brands and activities.

http://www.mitongroup.com/

ST of IC - The bottom line is that there could be substantial upside to the share price if Miton continues to generate inflows into its best-performing funds and maintains the turnaround in previously underperformers. Trading on a 40 per cent discount to net asset value, and with net cash accounting for 40 per cent of its market value, I rate Miton's shares a decent recovery buy at 23p and have a year-end target price of 35p.

Seem to be on the bounce.