8 January 2021
Premier Miton Group plc
('Premier Miton', 'Group' or the 'Company')
Q1 AuM update
Premier Miton completes merger integration and sees AuM increase to £12 billion
Premier Miton Group plc (AIM: PMI) today provides an update on its unaudited statement of Assets under Management ('AuM') for the first quarter of its current financial year (the 'Quarter' or 'Period').
· Closing AuM of £12.0 billion at 31 December 2020 (30 September 2020: £10.6 billion)
· Net inflows of £166 million during the Quarter
Mike O'Shea, Chief Executive Officer, commented:
"The Group's AuM grew by 13% from the position at 30 September 2020 to end the Quarter at £12 billion.
It is pleasing to see a return to net inflows for the Group driven by positive flows into our equity and fixed income strategies. Unfortunately, we continued to see outflows from our multi-asset multi-manager funds although there has been a noticeable improvement in short-term investment performance.
I am also pleased to report that during the Quarter, the final operational stages of the integration of the former Premier and Miton businesses were completed. This allows the Group to move forward with a single operating platform across our entire fund range.
At the end of the Period, the UK entered into a trade agreement with the EU, which one hopes will end the economic and political uncertainty around Brexit. This in turn should be positive for UK equities, which have suffered an extended period of relative underperformance. Premier Miton has a range of top performing UK equity funds that are well placed to capture market share as investor interest returns to this area of the market.
Finally, we look forward to the launch of the Premier Miton Global Smaller Companies Fund on 22 March 2021. This fund will be managed by Alan Rowsell who successfully ran a similar fund at Aberdeen Standard Investments. Premier Miton already has extensive smaller companies experience across UK, US and European equities and the new fund will draw on this, alongside Alan's own expertise, to provide further investment choice for our clients."
Assets under Management:
|
| Opening AuM 1 Oct 2020 £m |
Quarter 1 net flows £m | Market / investment performance £m | Closing AuM 31 Dec 2020 £m | |
|
Equity funds | 5,404 | 196 | 737 | 6,337 | |
| Multi-asset funds | 4,119 | (384) | 355 | 4,090 | |
| Fixed income funds | 486 | 31 | 17 | 534 | |
| Investment trusts | 599 | (17) | 93 | 675 | |
| Segregated mandates | - | 340 | 11 | 351 | |
|
Total | 10,608 | 166 | 1,213 | 11,987 | |
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ENDS
For further information, please contact:
| Premier Miton Group plc Mike O'Shea, Chief Executive Officer
|
01483 306 090
|
| Numis Securities Limited (NOMAD and Broker) Charles Farquhar / Huw Jeremy
|
020 7260 1000
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| Liberum Capital Limited (Joint Broker) Richard Crawley / Jamie Richards
|
020 3100 2000 |
| Smithfield Consultants (Financial PR) John Kiely / Andrew Wilde / Imogen Gardam
|
020 3047 2544 / 07785 275665
|
Notes to editors:
Premier Miton Investors is focused on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include equity, fixed income, multi-asset and absolute return.
LEI Number: 213800LK2M4CLJ4H2V85
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