Premier Asset Management Group PLC Trading Statement (5028V)
April 09 2019 - 2:00AM
UK Regulatory
TIDMPAM
RNS Number : 5028V
Premier Asset Management Group PLC
09 April 2019
9 April 2019
Premier Asset Management Group PLC
("Premier" or the "Company")
Q2 Trading Update and Interim Dividend
Premier Asset Management Group PLC (AIM: PAM) today announces a
trading update for the Company's quarter ended 31 March 2019.
Highlights
-- Total assets under management (AUM) were GBP6.8 billion as at
31 March 2019 (31 March 2018: GBP6.4 billion)
-- Total net inflows of GBP3m in the three months to 31 March
2019 (3 months to 31 March 2018: GBP175m)
-- Twenty fourth successive quarter of positive net inflows
-- Total net inflows of GBP67m in the six months to 31 March
2019 (6 months to 31 March 2018: GBP411m)
-- Total net inflows of GBP390m for the rolling twelve months to
31 March 2019 (rolling twelve months to 31 March 2018: GBP847m)
-- Continued strong investment performance net of fund charges*:
o Over three years to 31 March 2019: 72% of AUM were above
median
o Over five years to 31 March 2019: 83% of AUM were above
median
-- Quarterly dividend per share of 1.70p vs 1.65p for the same period last year
* Performance figures represent 81% of Premier's total AUM as at
31 March 2019 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
March 2019. 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:
"Despite continued political and economic uncertainty caused by
the ongoing Brexit negotiations, low investor confidence, volatile
markets and record low investment industry net flow figures,
Premier managed to produce positive net inflows and has continued
to produce good long term investment performance after fund
charges.
"Notwithstanding net outflows for the industry as a whole, it is
encouraging to note that support for our multi asset funds remained
positive, albeit at lower levels during this more difficult period,
with net inflows of GBP125m over the six months. In common with
much of the industry, we did however experience net outflows from
our UK equity funds, a sector which has been out of favour with
investors for some months now.
Looking forward, we continue to believe the combination of our
relevant product range, investment performance record, strong brand
and distribution capabilities, means we are well placed to help our
clients in these challenging conditions and when the investment
environment and confidence improves."
AUM reconciliation
(GBPm) Six months ended Six months ended
31 March 2019 31 March 2018
------------- ----------------- ----------------
Opening AUM 6,865.5 6,087.8
------------- ----------------- ----------------
Sales 866.0 1,134.7
------------- ----------------- ----------------
Redemptions (798.6) (723.3)
------------- ----------------- ----------------
Net flows 67.4 411.4
------------- ----------------- ----------------
Performance (139.7) (133.9)
------------- ----------------- ----------------
Closing AUM 6,793.2 6,365.3
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 March 2019. The ex-dividend date will be 2 May 2019 and the
associated record date will be 3 May 2019. The payment date will be
7 June 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 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 GBP6.8 billion of assets under management as at
31 March 2019.
LEI Number: 213800LK2M4CLJ4H2V85
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END
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