For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220408:nRSH7201Ha&default-theme=true
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
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
. END UPDSSSFWWEESEIL