Premier Miton Group PLC Q2 AuM Update (7505U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMPMI
RNS Number : 7505U
Premier Miton Group PLC
08 April 2021
8 April 2021
Premier Miton Group plc
('Premier Miton', 'Group' or the 'Company')
Q2 AuM update
Premier Miton AuM increases to GBP 12.6 billion with second
consecutive quarter of positive net inflows
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').
-- Closing AuM of GBP12.6 billion at 31 March 2021 (31 December 2020: GBP12.0 billion)
-- Net inflows of GBP193 million during the Quarter
-- Financial year to date net inflows of GBP359 million
Mike O'Shea, Chief Executive Officer, commented:
"The Group's AuM grew by 19% from the position at 30 September
2020 to end the Period at GBP12.6 billion. It was pleasing to see
the continued growth in AuM and to record a second successive
quarter of net positive fund flows.
For the first time in many months, and as we had expected at the
time of our last update to shareholders, we saw increasing demand
for our UK equity-focused strategies. This sector has been out of
favour with investors for some time and it is one where we have a
broad and strongly performing range of funds. Should this recent
improvement in investor sentiment be maintained, we believe that
the Group is well placed to benefit from increasing fund flows
given our excellent track record in the area.
Our new Premier Miton Global Smaller Companies Fund was
successfully launched on 22 March 2021 and has already attracted
good investor interest. We continue to believe that smaller
companies represent an area where investors will be able to find
value over the coming years and we are confident that our new team
will do a very good job for investors.
We look forward to the launch of the Premier Miton European
Sustainable Leaders Fund on 10 May 2021. This new fund will focus
on companies with strong environmental, social and governance
('ESG') profiles and those the fund managers believe offer longer
term sustainable growth themes. The fund will be managed by the
highly-regarded investment team of Carlos Moreno and Thomas Brown
who have successfully managed the GBP2.4 billion(1) Premier Miton
European Opportunities Fund since launch in December 2015. As a
Group, we currently manage four funds with specific sustainable,
ESG or ethical objectives designed to meet increasing demand for a
specialist responsible investing approach from our investors.
Finally, during the Quarter, we completed a number of changes to
our multi-asset funds with the objective of reducing overall costs
for investors. Of the GBP3.9 billion the Group now manages in
multi-asset funds, some GBP2.2 billion is managed on a
multi-manager basis and GBP1.7 billion is managed through direct
investment in underlying securities. We continue to believe that
both strategies have a role to play in client portfolios and we are
proud of our long-term investment records in both areas. It is also
pleasing to see that short-term investment performance for both
groups of multi-asset funds is very strong. For those multi-asset
funds where an industry sector is an appropriate comparator, we
have 97%(2) of our AuM performing ahead of median and 94%(2) in the
first quartile over the last year."
Assets under Management:
Opening Closing
AuM Quarter Quarter Year to Market AuM
1 Oct 1 2 date / investment 31 Mar
2020 net flows net flows net flows performance 2021
GBPm GBPm GBPm GBPm GBPm GBPm
Equity funds 5,404 196 425 621 1,023 7,048
Multi-asset funds 4,119 (384) (243) (627) 445 3,937
Fixed income
funds 486 31 (11) 20 14 520
Investment trusts 599 (17) (1) (18) 150 731
Segregated mandates - 340 23 363 3 366
Total 10,608 166 193 359 1,635 12,602
(1) Fund size as at 31 March 2021
(2) Source: FE Analytics, data to 31 March 2021 using the main
representative post-RDR share class based on Investment Association
sector classifications. Performance period relates to the twelve
months to 31 March 2021 for the fifteen Premier Miton multi-asset
funds, representing GBP3.5 billion of AuM at the Period end. This
figure excludes the Premier Miton Multi-Asset Absolute Return Fund
and the Premier Miton Liberation fund range (where sector
comparisons are inappropriate)
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 / Kevin Cruickshank 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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