REG - Premier Miton Group - Q2 AuM Update

Premier MitonAnnouncement

14/04/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230414:nRSN1941Wa&default-theme=true

RNS Number : 1941W  Premier Miton Group PLC  14 April 2023

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').

 

·   £11.0 billion closing AuM at 31 March 2023 (30 September 2022: £10.6
billion)

·   £40 million of net outflows for the Quarter (£32 million net outflows
for the financial year to date)

·   Continued strong relative investment performance with 76%(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 £11.0 billion, an increase of 4% on the
opening position for the financial year. We saw early signs of returning
confidence amongst fund buyers in the latter stages of 2022 but this has not
followed through into 2023 and the banking shocks that unfolded towards the
end of the period have again dented risk appetite. It appears from wider
industry data that investors have continued to shun UK equities but have also
been more wary on active European and Global equities. There has, however,
been an uptick in demand for fixed income strategies where we are well placed
to serve our clients.

"Our own experience broadly reflects this backdrop with continued inflows into
our fixed income, US equity and Diversified Multi Asset funds and outflows
from our European equity and UK equity funds. In total, the Group experienced
net outflows for the six months to 31 March 2023 totalling £32 million.

"We continue to invest in our business as part of our long-term growth
strategy and we will be adding to our suite of dedicated responsible and
sustainable funds with the launch of the Premier Miton Emerging Markets
Sustainable Fund on 21 April 2023. The fund will be managed by Fiona Manning
and Will Scholes who joined the Group at the end of August 2022 from abrdn.

"Our primary focus is to deliver strong long-term investment performance for
our investors, and it is pleasing to note that 76% (2) of funds are in the
first or second quartile of their respective sectors since launch or fund
manager tenure.

"Despite the current headwinds, we continue to have a well-diversified
portfolio of actively managed funds which will be attractive to new investors
as and when confidence returns."

Assets under Management:

                      Opening                                               Quarter 1 Market / investment performance  Quarter 2 Market / investment performance  Year to date Market / investment performance  Closing

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

                      1 Oct 2022   net flows    net flows     net flows                                                                                                                                         31 Mar 2023(1,3)

                      £m           £m          £m            £m                                                                                                                                                 £m
                      5,631        (169)       (191)         (360)          393                                        (27)                                       366                                           5,637

 Equity funds
 Multi-asset funds    3,263        (17)        (52)          (69)           113                                        (33)                                       80                                            3,274
 Fixed income funds   750          186         194           380            8                                          (10)                                       (2)                                           1,128
 Investment trusts    519          1           (3)           (2)            15                                         (19)                                       (4)                                           513
 Segregated mandates  402          7           12            19             18                                         4                                          22                                            443
                      10,565       8           (40)          (32)           547                                        (85)                                       462                                           10,995

 Total

( )

( )

(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 33 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 March 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 £239 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  UPDFFFVFSDIVLIV