Premier Miton Group PLC Q3 AuM Update (9943F)

TIDMPMI

RNS Number : 9943F

Premier Miton Group PLC

14 July 2023

Premier Miton Group plc

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

Q3 AuM update

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 current financial year (the 'Quarter' or 'Period').

   --   GBP10.5 billion closing AuM at 30 June 2023 (31 March 2023: GBP11.0 billion) 
   --   GBP449 million of net outflows for the Quarter

-- Continued strong relative investment performance, with 81% (2) of funds in the first or second quartile of their respective sectors since launch or fund manager tenure

Mike O'Shea, Chief Executive Officer, commented:

" The Group's AuM ended the Quarter at GBP10.5 billion. We saw outflows from across our fund range as investors retrenched against a backdrop of higher inflation, higher interest rates and ongoing market uncertainty. These outflows were principally driven by asset allocation decisions in the wider market, with investors choosing to reduce exposure to equities. Fixed income was a positive area, we saw inflows of GBP175 million, although these were to some extent offset by outflows of GBP70 million from our money market fund. Year to date we have seen over GBP500 million of net inflow into fixed income.

"We continue to focus heavily on building our profile with advisers and wealth managers through our marketing and distribution activity. We believe we have a suite of investment products that will be attractive to investors and their advisers once they return to having a more positive investment outlook."

Assets under Management:

 
                                                                    Quarter 
                                                                      1 & 2       Quarter           Year 
                Opening                   Quarter        Year        Market      3 Market        to date       Closing 
                    AuM       Quarter           3     to date             /             /         Market           AuM 
                  1 Oct         1 & 2         net         net    investment    investment   / investment        30 Jun 
                   2022     net flows       flows       flows   performance   performance    performance    2023 (1,3) 
                   GBPm          GBPm        GBPm        GBPm          GBPm          GBPm           GBPm          GBPm 
 
   Equity 
   funds          5,631         (360)       (458)       (818)           366             4            370         5,183 
 Multi-asset 
  funds           3,263          (69)        (62)       (131)            80          (32)             48         3,180 
 Fixed income 
  funds             750           380        (13)         367           (2)           (3)            (5)         1,112 
 Investment 
  trusts            519           (2)        (34)        (36)           (4)          (24)           (28)           455 
 Segregated 
  mandates          402            19         118         137            22          (11)             11           550 
 
   Total         10,565          (32)       (449)       (481)           462          (66)            396        10,480

(1) Comprising of 41 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 covered a total of 32 open-ended funds since manager inception. Data is sourced from FE Analytics FinXL using the main representative post-RDR share class, based on a total return, UK Sterling basis. All data is as at 30 June 2023 and the performance period relates to when the fund launched or the assumed tenure of the fund manager(s).

(3) 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 GBP264 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 7597 4000 
  Edelman Smithfield Consultants (Financial 
   PR)                                            07785 275665 / 
   John Kiely / Latika Shah                       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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDFLFSDDTIVLIV

(END) Dow Jones Newswires

July 14, 2023 02:00 ET (06:00 GMT)

Premier Miton (LSE:PMI)
Historical Stock Chart
From Nov 2024 to Dec 2024