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REG - Premier Miton Group - Q2 AuM Update

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RNS Number : 7201H  Premier Miton Group PLC  08 April 2022

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

 

·   £12.8 billion closing AuM at 31 March 2022 (31 December 2021: £13.9
billion)

·   £216 million of net outflows from open ended funds for the Quarter
(£303 million net outflows for the financial year to date)

·   Positive net flows in fixed income funds and Diversified multi-asset
funds

·   49(1)( )products managed by 17 investment teams at the Period end

·   Strong relative investment performance with 87%(2) of AuM and 77%(2) of
funds in the first or second quartile of their respective sectors since
manager inception

·   New institutional distribution capability announced in the Period

 

Mike O'Shea, Chief Executive Officer, commented:

 

"Geopolitical events created a challenging period for markets and this was
reflected in the Group's AuM ending the Quarter at £12.8 billion. This
represents a fall of 8% on the opening position for the financial year.
Inevitably, investors have been cautious about committing to new investments
during this period of uncertainty. We have seen net outflows of £216 million
from the open ended funds managed by the Group. These were primarily from UK
equity funds and the multi-asset multi-manager funds, reflecting softer client
sentiment. The outflows were partially offset by inflows into our fixed income
funds and the Diversified multi-asset funds.

 

"Our investment performance remains relatively strong in these turbulent
times, with 77%(2 )of funds in the first or second quartile of their
respective sectors since manager inception, which represents 87%(2) of AuM.
The strength of our business platform, the quality and performance of our
investment teams and our clear proposition built on genuine active management
mean that, despite the challenging economic conditions, we are well positioned
for the future.

 

"As part of our long-term growth strategy, we continue to invest in our
investment and client platform. This has included hiring new teams and
launching new funds. These new funds include our current range of six
dedicated responsible and sustainable funds, including the launch in March
2022 of our Premier Miton Diversified Sustainable Growth Fund, our first
dedicated responsible and sustainable multi-asset fund.

 

"During the period we announced the development of a new institutional
distribution channel, focused on building relationships with institutional
investors and investment consultants to enable growth in AuM from an
additional client base.

 

"The long-term investment market implications of current events remain
unclear, including the recovery pathway from the coronavirus pandemic, the
implications of rising interest rates, inflation and the end of quantitative
easing, and wider geopolitical uncertainty. Nevertheless, we strongly believe
that the current environment will create good long-term opportunities for our
active fund managers to deliver value for investors and growth for our
business."

 

 

 

Assets under Management:

 

                      Opening                                                           Market / investment performance  Closing

                      AuM          Quarter 1     Quarter 2     Year to date net flows   £m                               AuM

                      1 Oct 2021    net flows     net flows    £m                                                        31 Mar 2022(3)

                      £m           £m            £m                                                                      £m
                      8,223        (70)                                                 (567)                            7,377

 Equity funds                                    (209)         (279)
 Multi-asset funds    3,919        (79)          (80)          (159)                    (38)                             3,722
 Fixed income funds   594          62            73            135                      (21)                             708
 Investment trusts    784          (100)         (1)           (101)                    (42)                             641
 Segregated mandates  411          (1)           4             3                        (15)                             399
                      13,931       (188)                                                (683)                            12,847

 Total                                           (213)         (401)

( )

(1) Comprising of 43 open-ended funds, four investment trusts and two
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 Analytics FinXL using the main representative post-RDR
share class, based on a total return, UK Sterling basis. All data is as at 31
March 2022 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 £181
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)

 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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