Premier Miton Group PLC Q3 AuM update (4602S)
July 09 2020 - 2:00AM
UK Regulatory
TIDMPMI
RNS Number : 4602S
Premier Miton Group PLC
09 July 2020
9 July 2020
Premier Miton Group plc
('Premier Miton', 'Group' or the 'Company')
Q3 AuM update
Premier Miton strengthens investment capabilities with key new
hires as AuM increases to GBP10.3 billion
Premier Miton Group plc (AIM: PMI) today provides an update on
its unaudited statement of Assets under Management ('AuM') for the
third quarter of its financial year (the 'Period').
-- Closing AuM of GBP10.3 billion at 30 June 2020 (31 March 2020: GBP9.1 billion).
Fund manager appointments and new products
Fixed income
-- Lloyd Harris appointed as Head of Fixed Income and lead
manager of the Premier Corporate Bond Monthly Income Fund.
-- Lloyd joins in August 2020 from Merian Global Investors where
he has worked since January 2012.
-- He will be joined by other members of the Merian fixed income
investment team, including co-manager, Simon Prior.
-- The team managed approximately GBP1 billion(1) across three funds.
-- Launch of two new fixed income products planned before the
end of the calendar year, subject to regulatory approval.
Global smaller companies
-- Alan Rowsell appointed as manager of a planned new global smaller companies fund.
-- Alan joins in October 2020 from Aberdeen Standard Investments
where he has been manager of the GBP1.2 billion(1) ASI Global
Smaller Companies Fund since 2012.
Mike O'Shea, Chief Executive Officer, commented:
"I am delighted to welcome Lloyd Harris, Simon Prior, Alan
Rowsell and their investment analysts to our active investment
management team. These hires strengthen our investment capabilities
and broaden the product range we can offer our clients.
We will continue to grow our business through the addition of
new investment talent and by developing our product range where
significant client demand is identified.
The Group's AuM saw a recovery of 12% from the position at 31
March 2020 to end the quarter at GBP10.3 billion.
The single strategy funds continued to see inflows across
several products. Leading this was the European equity investment
team with inflows in the Period bringing their AuM to GBP1.48
billion as at 30 June 2020. I am pleased to report that the LF
Miton European Opportunities Fund is the best performing European
ex UK equity fund since its launch(2) and the fund very recently
won Best European fund at the Investment Week Fund Manager of the
Year Awards 2020 along with best Europe fund in the Money Observer
Fund Awards 2020.
There was a slowdown in outflows across the multi-asset and
fixed income products compared to the previous two quarters.
Looking forward we continue to see growth opportunities across our
range of both new and established funds."
Assets under Management
Half
Opening year Quarter Year Market Closing
AuM net 3 to date / investment AuM
1 Oct Merger flows net flows net performance 30 Jun
2019 (3) (4) (4) Closure flows (4) 2020
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Equity funds 1,312 3,406 116 95 - 211 (23) 4,906
Multi-asset
funds 4,423 795 (325) (187) - (512) (325) 4,381
Fixed income
funds 576 - (180) (20) - (200) (11) 365
Investment
trusts 150 500 - (18) - (18) (34) 598
Segregated
mandates 95 - - - (96) (96) 1 -
Total 6,556 4,701 (389) (130) (96) (615) (392) 10,250
(1) Fund sizes as at 31 May 2020. Source: Provider's own factsheet
(2) Source: FE Analytics, data to 30 June 2020 using the B
accumulation share class within the Investment Association Europe
ex UK sector, income reinvested, mid-to-mid and net of fees in UK
Sterling terms
(3) Merger of Premier Asset Management Group plc and Miton Group
plc on 14 November 2019
(4) Includes the former Miton Group plc fund range with effect
from close of business on 14 November 2019
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)
Kevin Cruickshank / Charles Farquhar / Huw
Jeremy 020 7260 1000
Liberum Capital Limited (Joint Broker)
Richard Crawley / Jamie Richards 020 3100 2000
020 3047 2544
Smithfield Consultants (Financial PR) /
John Kiely / Andrew Wilde / Imogen Gardam 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.
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END
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