REG - Premier Miton Group - Q4 AuM update and Notice of results

Premier MitonAnnouncement

11/10/2024 07:00

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RNS Number : 7834H  Premier Miton Group PLC  11 October 2024

Premier Miton Group plc

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

Q4 AuM update

and

Notice of results

 

Continuing to build a strong business as more positive signs appear and
investor interest returns

 

 

Premier Miton Group plc (AIM: PMI), the AIM quoted fund management group,
today provides an update on its unaudited statement of Assets under Management
('AuM') for the fourth quarter of the financial year (the 'Quarter' or
'Period') to 30 September 2024.

 

·   £10.7 billion closing AuM at 30 September 2024 (30 September 2023:
£9.8 billion), an increase of 9% on the opening position for the financial
year

·   £133 million of net outflows for the Quarter

 

 

Mike O'Shea, Chief Executive Officer, commented:

 

"It was pleasing to see that net flows into our funds and segregated mandates
were positive during June, July and August. Significant uncertainty ahead of
the budget in the UK later this month appears to have dented investor
sentiment more recently. As a result, the improving environment for sales that
we saw over the summer has reversed.

"Net flows for September were negative and we also saw a meaningful redemption
from one of the UK focussed investment trusts we manage, bringing the total
outflow for the quarter to £133 million. This is disappointing after the
stronger inflows seen over the summer. It is to be hoped that once the full
impact of the budget, particularly on capital gains and pensions, is known,
then investor confidence will return.

"Encouragingly, though, we continued to see positive flow into the Tellworth
funds following their successful integration into the Premier Miton business.
Investment performance also continues to be good in many of our key areas. Our
UK equity teams have delivered strong returns over the last year as have our
multi-asset teams. It has also been pleasing to see improving short term
numbers for some of our international equity strategies as equity markets have
broadened out in recent months. Both our fixed income and absolute return
teams have continued to build on their impressive longer-term numbers. All of
which stands us in good stead for when the flow environment
improves."

 

Assets under Management:

On 30 September 2024, our AuM stood at £10.7 billion.

A reconciliation of AuM and flows over the Quarter is below:

                                   Equity funds  Multi-asset funds       Fixed income funds              Investment trusts             Segregated mandates             Total
                                   £m            £m                      £m                              £m                            £m                              £m
 AuM at 1 July 2024                  5,134                2,951                       1,308                           384                            835                 10,612
                                   (139)         (79)                    (24)                            (78)                          187                             (133)

 Net flows
                                   111           49                      22                              7                             15                              204

 Market / investment performance

 AuM at 30 September 2024 (1, 2)   5,106         2,921                   1,306                           313                           1,037                           10,683

 

A reconciliation of AuM and flows over the year to 30 September 2024 is below:

 

                                   Equity funds  Multi-asset funds                     Fixed income funds                          Investment trusts                     Segregated mandates                     Total
                                   £m            £m                                    £m                                          £m                                    £m                                      £m
 AuM at 1 October 2023               4,563                3,068                                     1,160                                       448                                    582                           9,821
                                   (476)         (462)                                 67                                          (88)                                  201                                     (758)

 Net flows
 Fund / mandate acquisitions (3)        368                      -                                        -                                        -                                   192                              560

 Fund / mandate disposals (4)      (42)                          -                                        -                        (78)                                                   -                      (120)
                                   693           315                                   79                                          31                                    62                                      1,180

 Market / investment performance

 AuM at 30 September 2024 (1, 2)   5,106          2,921                                1,306                                       313                                   1,037                                   10,683

( )

(1) Comprising of 43 open-ended funds, three investment trusts and seven
external segregated mandates.

( )

(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 £266 million.

 

(3) Acquisition of Tellworth Investments LLP and appointment as investment
manager to GVQ Investment Funds (Dublin) plc in Q2.

 

(4) Disposal of Premier Miton Worldwide Opportunities Fund and transfer of
MIGO Opportunities Trust plc in Q1.

 

Notice of results

Premier Miton will issue its results for the financial year ending 30
September 2024 on 4 December 2024.

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)

 David Anderson / Ben Griffiths / St John Hunter   020 7597 4000

 Camarco

 Geoffrey Pelham-Lane / Ben Woodford               07733 124 226 /

                                                   07990 653 341

 

 

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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