REG - Premier Miton Group - Q1 AuM Update

Premier MitonAnnouncement

12/01/2024 07:00

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RNS Number : 4603Z  Premier Miton Group PLC  12 January 2024

Premier Miton Group plc

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

Q1 AuM update

 

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').

 

·   £10.1 billion closing AuM at 31 December 2023 (30 September 2023:
£9.8 billion)

·   £0.2 billion of net fund outflows for the Quarter

·   £0.1 billion of mandate transfer and fund disposal (4)

·   Continued strong relative investment performance with 75% (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 £10.1 billion, an increase of 3% on the
opening position for the year. The closing AuM and the net outflows for the
Quarter include the sale of the Premier Miton Worldwide Opportunities Fund and
the previously announced transfer of the MIGO Opportunities Trust plc to Asset
Value Investors, these had a combined AuM of £0.1 billion.

As part of our ambition to develop the Group's presence in the offshore fund
market, we are pleased to announce that during the period we agreed to take on
the investment management of a Dublin based UCITS platform with approximately
£0.1 billion of AuM. This will be the foundation of our offshore fund
development plans enabling us to distribute our fund management capabilities
across a broader client base. The appointment remains subject to normal
regulatory clearances and is expected to complete in February 2024. Further
details will be announced in due course. The assets of the Dublin UCITS
platform will be managed by the Group's existing fund management teams and no
new employees will be joining the Group as a result. Neither the consideration
from the sale of the Worldwide Opportunities fund or for the appointment to
the Dublin UCITS platform are material to the Group's cash position.

I am pleased to note that the improvement in short term performance mentioned
at the time of our full year results announcement has continued into the
calendar year end. As a result, our investment performance remains relatively
strong with 75% (2) of funds in the first or second quartile of their
respective sectors since launch or fund manager tenure."

Assets under Management:

 

                      Opening                    Market / investment performance  Closing

                      AuM          Quarter 1     £m                               AuM

                      1 Oct 2023    net flows                                     31 Dec 2023 (1,3)

                      £m           £m                                             £m
                      4,563        (253)         358                              4,668

 Equity funds
 Multi-asset funds    3,068        (141)         156                              3,083
 Fixed income funds   1,160        112           37                               1,309
 Investment trusts    448          (79)          8                                377
 Segregated mandates  582          23            31                               636
                      9,821        (338)         590                              10,073

 Total

( )

(1) Comprising of 40 open-ended funds, three 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 36 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 31 December 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 £267 million.

 

(4) Figure is included within the total Quarter 1 net flows in the table above
(within the AuM of Equity funds and Investment trusts).

 

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)

 John Kiely / Latika Shah                                          07785 275665 /

                                                                   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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