REG - Premier Miton Group - Q3 AuM Update

Premier MitonAnnouncement

15/07/2022 07:00

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RNS Number : 5694S  Premier Miton Group PLC  15 July 2022

Premier Miton Group plc

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

Q3 AuM update

 

 

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

 

·   £11.3 billion closing AuM at 30 June 2022 (31 March 2022: £12.8
billion)

·   £0.3 billion of net outflows for the Quarter

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

·   Strong relative investment performance with 91%(1) of AuM and 85%(1) of
funds in the first or second quartile of their respective sectors since
manager inception

·   New emerging markets sustainable equities fund management team
announced in the Period

 

Mike O'Shea, Chief Executive Officer, commented:

 

"Geopolitical events continued to create uncertainty in markets and this was
reflected in the Group's reduction in AuM during the Quarter. Investors remain
cautious about committing to new investments, as highlighted by ongoing
outflows across UK public equities, and we saw net outflows of £0.3 billion
in the Period. These were primarily from European and UK equity 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 85%(1) of our funds in the first or second quartile of their
respective sectors since manager inception. Shorter-term numbers are also
encouraging with 80% of funds above median over three years, representing 85%
of AuM. The strength of our business platform, the quality and performance of
our investment teams and our clear proposition built on active management mean
that, despite the challenging economic conditions, we remain well placed for
the future.

 

"As part of our long-term growth strategy, we continue to invest in our
business. We were pleased to announce the appointment of an emerging markets
sustainable equities fund management team during the Period; Fiona Manning and
Will Scholes will join the Group at the end of August 2022 from Abrdn. Subject
to regulatory consent, we expect to launch a Premier Miton emerging markets
sustainable equities fund in early 2023, adding to our current range of six
dedicated responsible and sustainable funds.

 

"With our operational and financial strength, we are in a strong position to
navigate this volatile period."

 

 

Assets under Management:

 

                      Opening                                                                         Market / investment performance  Closing

                      AuM          Quarter 1     Quarter 2     Quarter 3     Year to date net flows   £m                               AuM

                      1 Oct 2021    net flows     net flows     net flows    £m                                                        31 Mar 2022(2)

                      £m           £m            £m            £m                                                                      £m
                      8,223        (70)                                                               (1,473)                          6,131

 Equity funds                                    (209)         (340)         (619)
 Multi-asset funds    3,919        (79)          (80)          (51)          (210)                    (240)                            3,469
 Fixed income funds   594          62            73            29            164                      (42)                             716
 Investment trusts    784          (100)         (1)           (10)          (111)                    (91)                             582
 Segregated mandates  411          (1)           4             37            40                       (37)                             414
                      13,931       (188)                                                              (1,883)                          11,312

 Total (1)                                       (213)         (335)         (736)

( )

(1) The quartile performance rankings are based on Investment Association
sector classifications where applicable, this covers 34 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 30
June 2022 and the performance period relates to when the fund launched or the
assumed tenure of the fund manager(s).

( )

(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 £171 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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