TIDMPMI

RNS Number : 9964K

Premier Miton Group PLC

08 January 2021

8 January 2021

Premier Miton Group plc

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

Q1 AuM update

Premier Miton completes merger integration and sees AuM increase to GBP 12 billion

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

   --   Closing AuM of GBP12.0 billion at 31 December 2020 (30 September 2020: GBP10.6 billion) 
   --   Net inflows of GBP166   million during the Quarter

Mike O'Shea, Chief Executive Officer, commented:

"The Group's AuM grew by 13% from the position at 30 September 2020 to end the Quarter at GBP12 billion.

It is pleasing to see a return to net inflows for the Group driven by positive flows into our equity and fixed income strategies. Unfortunately, we continued to see outflows from our multi-asset multi-manager funds although there has been a noticeable improvement in short-term investment performance.

I am also pleased to report that during the Quarter, the final operational stages of the integration of the former Premier and Miton businesses were completed. This allows the Group to move forward with a single operating platform across our entire fund range.

At the end of the Period, the UK entered into a trade agreement with the EU, which one hopes will end the economic and political uncertainty around Brexit. This in turn should be positive for UK equities, which have suffered an extended period of relative underperformance. Premier Miton has a range of top performing UK equity funds that are well placed to capture market share as investor interest returns to this area of the market.

Finally, we look forward to the launch of the Premier Miton Global Smaller Companies Fund on 22 March 2021. This fund will be managed by Alan Rowsell who successfully ran a similar fund at Aberdeen Standard Investments. Premier Miton already has extensive smaller companies experience across UK, US and European equities and the new fund will draw on this, alongside Alan's own expertise, to provide further investment choice for our clients."

Assets under Management:

 
                        Opening                                 Closing 
                            AuM       Quarter          Market       AuM 
                          1 Oct             1    / investment    31 Dec 
                           2020     net flows     performance      2020 
                           GBPm          GBPm            GBPm      GBPm 
 
   Equity funds           5,404           196             737     6,337 
 Multi-asset funds        4,119         (384)             355     4,090 
 Fixed income 
  funds                     486            31              17       534 
 Investment trusts          599          (17)              93       675 
 Segregated mandates          -           340              11       351 
 
   Total                 10,608           166           1,213    11,987

ENDS

For further information, please contact:

 
  Premier Miton Group plc 
   Mike O'Shea, Chief Executive Officer            01483 306 090 
  Numis Securities Limited (NOMAD and Broker) 
   Charles Farquhar / Huw Jeremy                   020 7260 1000 
  Liberum Capital Limited (Joint Broker) 
   Richard Crawley / Jamie Richards                020 3100 2000 
                                                   020 3047 2544 
  Smithfield Consultants (Financial PR)             / 
   John Kiely / Andrew Wilde / Imogen Gardam        07785 275665

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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January 08, 2021 02:00 ET (07:00 GMT)

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