REG - Premier Miton Group - Q2 AuM update

Premier MitonAnnouncement

16/04/2025 07:00

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RNS Number : 1811F  Premier Miton Group PLC  16 April 2025

Premier Miton Group plc

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

Q2 AuM update

 

Premier Miton Group plc (AIM: PMI) today provides an update on its unaudited
statement of Assets under Management ('AuM') for the second quarter of the
current financial year ending 30 September 2025 (the 'Quarter' or 'Period').

 

·   £10.2 billion AuM as at 31 March 2025 (30 September 2024: £10.7
billion)

·   Net inflows continue into absolute return strategies during the Period

·   Net outflows from UK and European equity strategies

·   £221 million of net outflows for the Quarter, of which £175 million
relates to one European equity fund

·   £3 million of identified annual cost efficiencies expected to be
implemented by September 2025

·   AuM estimated at £10.0 billion at 14 April 2025, with small net
positive flows seen during the first 10 trading days of the month

 

Mike O'Shea, Chief Executive Officer, commented:

 

"The Group's AuM ended the Quarter at £10.2 billion, a decrease of 5% on the
opening position for the financial year. We saw strong demand for the absolute
return funds during the Period driven by continued good performance. This was
offset by outflows predominantly from the European Opportunities fund of £175
million driven by shorter term relative underperformance. We maintain our
belief in this fund's long-term focus on growth orientated European companies
in sectors such as technology and healthcare which have high returns on
capital, and which can compound for positive investment returns."

 

"We have completed the operational infrastructure review which we flagged in
December 2024 and have identified operational efficiencies across our business
which are expected to reduce our annual run-rate costs by approximately 6% or
£3 million annually. Implementing these efficiencies and cost reductions is
expected to be completed by the end September 2025. The associated one-off
costs to achieve these are estimated to be in the region of £1 million. We
remain fully focused on managing our portfolio of products and our cost base
to optimise the prospects of success for our key stakeholders."

 

"Whilst market conditions remain difficult, we continue to believe that
running a well-diversified portfolio of highly active strategies is the right
long-term approach for the business. Although we saw something of an
improvement in net flows in the first quarter of the current financial year,
this has slipped back in the second as market volatility returned. We were
encouraged to see that Premier Miton was listed in the top 20 firms for both
gross and net retail sales in calendar 2024 in the influential Pridham Report.
This is testament to the high regard our fund management team is held in with
investors as well as the strength of our distribution capabilities,
notwithstanding the difficult market for fund sales."

 

"Since the end of the Quarter, market volatility has increased driven by fears
for the global economy following the introduction of US tariffs. Looking
forward, we know from experience that market volatility creates positive
opportunities for active fund managers. Despite the short-term challenges, we
are encouraged by the strong new business pipeline across our fixed income,
absolute return and several of our equity strategies. We expect market
conditions will stabilise in due course and allow us to convert this pipeline
into sales over the remainder of the year. In the meantime, we remain focussed
on delivering continued operational efficiency within a resilient business
model. Given our strong acquisition track record, we remain alert to further
potential strategic and tactical opportunities which have the scope to add
significant value to the business."

 

Assets under Management:

On 31 March 2025, our AuM stood at £10.2 billion.

A reconciliation of AuM and flows over the Quarter is below:

                                 Equity UK                  Multi-asset             Multi-asset Direct and Diversified  Fixed Income                    Absolute Return                 Total

                                            Equity          Multi Manager

                                            International
                                 £m         £m              £m                      £m                                  £m                              £m                              £m
 AuM at 1 January 2025             1,801                             1,056                       1,704                               2,102                            703                 10,672

                                            3,306
                                 (88)                       (65)                    (42)                                (27)                            166                             (221)

 Net flows                                  (165)
                                 (45)                       27                      (23)                                25                              (6)                             (250)

 Market/investment performance              (228)

 AuM at 31 March 2025 (1, 2)     1,668                      1,018                   1,639                               2,100                           863                             10,201

                                            2,913

( )

A reconciliation of AuM and flows over the six-month period to 31 March 2025
is below:

 

                                 Equity UK                  Multi-asset             Multi-asset Direct and Diversified  Fixed Income                    Absolute Return                 Total

                                            Equity          Multi Manager

                                            International
                                 £m         £m              £m                      £m                                  £m                              £m                              £m
 AuM at 1 October 2024             1,910                             1,132                       1,727                               2,062                            578                 10,683

                                            3,274
                                 (185)                      (121)                   (39)                                -                               280                             (254)

 Net flows                                  (189)
                                 (57)                       7                       (49)                                38                              5                               (228)

 Market/investment performance              (172)

 AuM at 31 March 2025 (1, 2)     1,668                      1,018                   1,639                               2,100                           863                             10,201

                                            2,913

( )

(1) Comprising of 44 open-ended funds, three investment trusts and seven
external segregated mandates

( )

( )

(2) 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 £265 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)

 David Anderson / Ben Griffiths / St John Hunter   020 7597 4000

 Camarco

 Geoffrey Pelham-Lane / Ben Woodford               07733 124 226 /

                                                   07990 653 341

 

 

 

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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