Premier Miton Group PLC Q1 AuM Update (9936X)

TIDMPMI

RNS Number : 9936X

Premier Miton Group PLC

11 January 2022

Premier Miton Group plc

('Premier Miton', the 'Group' or the 'Company')

Q1 AuM update

Premier Miton AuM GBP13.9 billion with new sustainable multi-asset fund to launch on 1 March 2022

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').

   --   GBP13.9 billion closing AuM at 31 December 2021 (30 September 2021: GBP13.9 billion) 
   --   GBP87 million of net outflows from open ended funds for the Quarter 
   --   49 (1) products managed by 17 investment teams at the Period end 
   --   80%(2) of funds in the first or second quartile of their respective sectors

Mike O'Shea, Chief Executive Officer, commented:

"The Group's AuM ended the Quarter flat at GBP13.9 billion. The closing AuM includes the previously announced winding up of the GBP101 million Acorn Income Fund Limited and GBP87m of net outflows.

Although it was disappointing to experience net outflows following four quarters of net inflows totalling GBP830 million, the net flows reflect a challenging period for UK fund flows in general, and for UK equities in particular. Importantly, our investment performance remains strong, with 80% (2) of funds in the first or second quartile of their respective sectors since launch or fund manager tenure, with both our more established and newer funds performing well.

We are also delighted to be launching the Premier Miton Diversified Sustainable Growth Fund on 1 March 2022, managed by the same investment team behind the existing, strongly performing range of five Diversified, directly invested multi-asset funds(3) . The fund will focus on investments with a strong environmental, social and governance ('ESG') profile and those which we believe offer longer-term sustainable growth themes. Our key strengths of investment excellence, active management and acting responsibly as we move towards a more sustainable future, coupled with our strong financial position means I am confident that Premier Miton is well positioned for future growth."

Assets under Management:

 
 
                   Opening     Quarter                    Closing 
                       AuM           1          Market        AuM 
                     1 Oct         net    / investment     31 Dec 
                      2021       flows     performance    2021(4) 
                      GBPm        GBPm            GBPm       GBPm 
 
   Equity funds      8,223        (70)             145      8,298 
 Multi-asset 
  funds              3,919        (79)              65      3,905 
 Fixed income 
  funds                594          62             (7)        649 
 Investment 
  trusts               784       (100)            (10)        674 
 Segregated 
  mandates             411         (1)               1        411 
 
   Total            13,931       (188)             194     13,937

(1) Comprising of 43 open-ended funds, four investment trusts and two external segregated mandates.

(2) The quartile performance rankings are based on Investment Association sector classifications where applicable, this covers 35 open-ended funds. Data is sourced from FE fundinfo using the main representative post-RDR share class, based on a total return, UK Sterling basis. All data is as at 31 December 2021 and the performance period relates to when the fund launched or the assumed tenure of the fund manager(s).

(3) Premier Miton Balanced Multi Asset Fund will be renamed Premier Miton Diversified Sustainable Growth Fund on 1 March 2022.

(4) AuM and net flows are presented after the removal of AuM invested in other funds managed by the Group. At the Period end these totalled GBP192 million.

ENDS

For further information, please contact:

 
  Premier Miton Group plc 
   Mike O'Shea, Chief Executive Officer          01483 306 090 
  Investec Bank plc (Nominated Adviser and 
   Broker) 
   Bruce Garrow / Ben Griffiths / Virginia 
   Bull / Harry Hargreaves                       020 7260 1000 
  Edelman Smithfield Consultants (Financial 
   PR)                                           07785 275665/ 
   John Kiely / Latika Shah/ Andrew Wilde         07950 671948

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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January 11, 2022 02:00 ET (07:00 GMT)

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