REG - Premier Miton Group - Q3 AuM Update

Premier MitonAnnouncement

14/07/2023 07:00

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RNS Number : 9943F  Premier Miton Group PLC  14 July 2023

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').

 

·   £10.5 billion closing AuM at 30 June 2023 (31 March 2023: £11.0
billion)

·   £449 million of net outflows for the Quarter

·   Continued strong relative investment performance, with 81%(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 £10.5 billion. We saw outflows from
across our fund range as investors retrenched against a backdrop of higher
inflation, higher interest rates and ongoing market uncertainty. These
outflows were principally driven by asset allocation decisions in the wider
market, with investors choosing to reduce exposure to equities. Fixed income
was a positive area, we saw inflows of £175 million, although these were to
some extent offset by outflows of £70 million from our money market fund.
Year to date we have seen over £500 million of net inflow into fixed income.

"We continue to focus heavily on building our profile with advisers and wealth
managers through our marketing and distribution activity. We believe we have a
suite of investment products that will be attractive to investors and their
advisers once they return to having a more positive investment outlook."

Assets under Management:

                      Opening                                                       Quarter 1 & 2 Market / investment performance      Quarter 3 Market / investment performance  Year to date Market / investment performance  Closing

                      AuM          Quarter 1 & 2       Quarter 3     Year to date   £m                                                 £m                                         £m                                            AuM

                      1 Oct 2022   net flows            net flows     net flows                                                                                                                                                 30 Jun 2023(1,3)

                      £m           £m                  £m            £m                                                                                                                                                         £m
                      5,631        (360)               (458)         (818)          366                                                4                                          370                                           5,183

 Equity funds
 Multi-asset funds    3,263        (69)                (62)          (131)          80                                                 (32)                                       48                                            3,180
 Fixed income funds   750          380                 (13)          367            (2)                                                (3)                                        (5)                                           1,112
 Investment trusts    519          (2)                 (34)          (36)           (4)                                                (24)                                       (28)                                          455
 Segregated mandates  402          19                  118           137            22                                                 (11)                                       11                                            550
                      10,565       (32)                (449)         (481)          462                                                (66)                                       396                                           10,480

 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 32 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 30 June 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 £264 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 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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