MMNIX Performance — Miller Market Neutral Income Fund, Class I
Data updated: 2026-09-04
MMNIX returned +4.30% year to date and +8.87% over one year to Jul 2026. Over one year the fund trailed its Market Neutral category average: $100 grew to $109, against $113 for the category. Volatility over the past 12 months was 1.63% a year. In the 12 months to Jul 2026 the fund took in a net $280.2M, and assets reached $360.02M.
MMNIX Growth of $100
What $100 invested in Miller Market Neutral Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Market Neutral category average over the same months.
| Period | MMNIX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $109 | $113 |
| Since data start (Dec 2023 – Jul 2026) | $126 | $136 |
MMNIX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +4.30% |
| 1 year | +8.87% |
| 3 years (annualised) | +8.96% |
MMNIX Annual Returns
Calendar-year total returns of Miller Market Neutral Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +4.30% |
| 2025 | +10.04% |
| 2024 | +9.54% |
| 2023 (Dec–Dec) | 0.00% |
MMNIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.4% | +0.4% | −0.4% | +1.3% | +0.7% | +0.6% | +0.3% | — | — | — | — | — |
| 2025 | +0.8% | +0.9% | +0.9% | +0.7% | +0.7% | +0.7% | +0.7% | +0.7% | +1.0% | +1.0% | +0.7% | +0.8% |
| 2024 | +0.3% | +0.3% | +1.4% | −0.2% | +1.2% | +0.7% | +1.1% | +1.1% | +1.6% | +0.3% | +0.9% | +0.6% |
| 2023 | — | — | — | — | — | — | — | — | — | — | — | 0.0% |
MMNIX Risk
Risk measures from monthly returns over Aug 2025 – Jul 2026.
- 1-year volatility (annualised): 1.63%
- Best month: +1.37% (Jan 2026)
- Worst month: −0.37% (Mar 2026)
MMNIX Fund Flows
Monthly money in and out of Miller Market Neutral Income Fund, from SEC Form N-PORT.
- 12-month net flow: $280.2M
- 12-month gross sales (incl. reinvestments): $328.6M
- Sales ÷ redemptions: 6.78×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $38.5M | $4.4M | $34.1M |
| Jun 2026 | $38.7M | $11.5M | $27.2M |
| May 2026 | $63.5M | $3.8M | $59.6M |
| Apr 2026 | $58.0M | $3.5M | $54.5M |
| Mar 2026 | $13.4M | $7.6M | $5.9M |
| Feb 2026 | $35.5M | $3.9M | $31.6M |
| Jan 2026 | $12.1M | $1.4M | $10.7M |
| Dec 2025 | $14.5M | $2.3M | $12.1M |
| Nov 2025 | $5.2M | $1.2M | $4.0M |
| Oct 2025 | $18.2M | $1.4M | $16.8M |
| Sep 2025 | $25.7M | $2.4M | $23.3M |
| Aug 2025 | $5.3M | $5.0M | $346K |
MMNIX Assets Under Management
Net assets of Miller Market Neutral Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $360.02M |
| 2026-04-30 | $235.25M |
| 2026-01-31 | $141.16M |
| 2025-10-31 | $114.94M |
| 2025-07-31 | $72.59M |
| 2025-04-30 | $53.67M |
| 2025-01-31 | $41.64M |
| 2024-10-31 | $37.50M |
| 2024-07-31 | $25.89M |
| 2024-04-30 | $26.54M |
| 2024-01-31 | $9.96M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.