Source - SMW
Fund manager Premier Asset Management Group said its assets under management fell in the third quarter of its financial year.

Assets under management at 30 June were £6.7bn, down from £6.8bn on-year.

Net outflows for the three months through June amounted to £55m, compared to net inflows of £202m on-year.

'The period has seen a continuation of challenging conditions for the investment industry, including record low industry retail net flows,' chief executive Mike O'Shea said.

'Notwithstanding the challenging industry headwinds, we continue to believe that our focus on relevant products, good investment outcomes after charges and a strong distribution capability means our business remains well positioned for the future when sentiment improves.'

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