Premier Asset Management Group PLC Trading Statement (6811M)
January 10 2019 - 2:00AM
UK Regulatory
TIDMPAM
RNS Number : 6811M
Premier Asset Management Group PLC
10 January 2019
10 January 2019
Premier Asset Management Group PLC
("Premier" or the "Company")
Q1 Trading update
Premier Asset Management Group PLC (AIM: PAM) today announces a
first quarter trading update for the three months to 31 December
2018.
Highlights
-- Assets under management (AUM) were GBP6.4 billion as at 31
December 2018 (31 December 2017: GBP6.4 billion)
-- Total net inflows for the quarter of GBP65 million (3 months
to 31 December 2017: GBP237 million)
-- Twenty third successive quarter of positive net inflows
-- Total net inflows of GBP562 million for the rolling twelve
months to 31 December 2018 (rolling twelve months to 31 December
2017: GBP843 million)
-- Continued strong relative investment performance net of all fund charges*:
o Over three years to 31 December 2018: 77% of AUM were above
median
o Over five years to 31 December 2018: 84% of AUM were above
median
-- Quarterly dividend per share declared of 1.70p vs 1.65p for the same period last year
* Performance figures represent 82% of Premier's total AUM as at
31 December 2018 and exclude absolute return funds, investment
trusts and segregated mandates. Figures are shown relative to
respective Investment Association sectors. Source: FE Analytics,
data to 31 December 2018. Net income reinvested. Data shown net of
all fund charges. C share class, or, where a C share class was not
available for the full time period, the pre RDR bundled or
equivalent retail share class has been used for the period the C
share class was not available.
Mike O'Shea, Chief Executive Officer, commented:
"It has been a challenging quarter, with subdued net inflows
against a background of economic and political uncertainty, and
market volatility. Over the period the UK equity market fell 9.6%
and global stock markets fell 10.5%(1) . We believe the continued
uncertain environment is driving nervousness amongst investors
generally. However, we are confident our strong distribution
capabilities, coupled with our continued strategy of focusing on
active management of relevant investment products, including our
twelve multi-asset funds and range of income funds, mean we
continue to be well placed for the future."
(1) Source: FE Analytics, data from 30 September 2018 to 31
December 2018. UK equities: FTSE 100 Index. Global equities: FTSE
All World Index. Currency: GBP, total return.
Quarterly AUM reconciliation
Q2 2018 Q3 2018 Q4 2018 Q1 2019
Ended 31-Mar Ended 30-Jun Ended 30-Sep Ended 31-Dec
------------- ------------- ------------- ------------
GBPm GBPm GBPm GBPm
------------- ------------- ------------- ------------
Opening AUM 6,446.2 6,365.3 6,772.9 6,865.5
------------- ------------- ------------- ------------
- Sales 564.0 585.2 518.7 466.3
------------- ------------- ------------- ------------
- Redemptions (389.5) (383.2) (398.4) (401.5)
------------- ------------- ------------- ------------
- Net sales 174.5 202.0 120.3 64.8
------------- ------------- ------------- ------------
- Performance (255.4) 205.6 (27.7) (486.4)
------------- ------------- ------------- ------------
Closing AUM 6,365.3 6,772.9 6,865.5 6,443.9
------------- ------------- ------------- ------------
Dividend
The Board of Premier has approved the payment of an interim
dividend of 1.70 pence per share for the three-month period ended
31 December 2018. The ex-dividend date will be 31 January 2019 and
the associated record date will be 1 February 2019. The payment
date will be 8 March 2019.
Enquiries:
Premier Asset Management Group Tel: 01483 306090
PLC Mike O'Shea
Numis Securities Limited Tel: 020 7260 1000
(NOMAD and Broker) Kevin Cruickshank
Charles Farquhar
Liberum Capital Limited Tel: 020 3100 2000
(Joint Broker) Richard Crawley
Jamie Richards
Smithfield Consultants Tel: 020 3047 2544
(Financial PR) John Kiely
Andrew Wilde
Note to editors
About Premier
Premier is a fast-growing UK retail asset management group with
a focus on delivering good investment outcomes for investors
through relevant products and active management across its range of
investment strategies, which include multi-asset, equity and
absolute return funds. Premier had GBP6.4 billion of assets under
management as at 31 December 2018.
LEI Number: 213800LK2M4CLJ4H2V85
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END
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