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Performance fees pay off for Milford
Tuesday 23rd of July 2013
Milford Funds, a unit of Milford Asset Management, has reported a big jump in profit as a result of strong investment returns on increasing funds under management.
For the year ended March 31, Milford Funds had profit of $7.36 million, up from just $1.05 million a year early. Fee income increased 257% to just over $19 million.
Expenses increased to $8.82 million from $3.87 million...
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