Premier Miton Group PLC Q2 AuM Update (7201H)
08 Abril 2022 - 3:00AM
UK Regulatory
TIDMPMI
RNS Number : 7201H
Premier Miton Group PLC
08 April 2022
Premier Miton Group plc
('Premier Miton', 'Group' or the 'Company')
Q2 AuM update
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').
-- GBP12.8 billion closing AuM at 31 March 2022 (31 December 2021: GBP13.9 billion)
-- GBP216 million of net outflows from open ended funds for the
Quarter (GBP303 million net outflows for the financial year to
date)
-- Positive net flows in fixed income funds and Diversified multi-asset funds
-- 49 (1) products managed by 17 investment teams at the Period end
-- Strong relative investment performance with 87% (2) of AuM
and 77% (2) of funds in the first or second quartile of their
respective sectors since manager inception
-- New institutional distribution capability announced in the Period
Mike O'Shea, Chief Executive Officer, commented:
"Geopolitical events created a challenging period for markets
and this was reflected in the Group's AuM ending the Quarter at
GBP12.8 billion. This represents a fall of 8% on the opening
position for the financial year. Inevitably, investors have been
cautious about committing to new investments during this period of
uncertainty. We have seen net outflows of GBP216 million from the
open ended funds managed by the Group. These were primarily from UK
equity funds and the multi-asset multi-manager 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 77% (2) of funds in the first or second
quartile of their respective sectors since manager inception, which
represents 87% (2) of AuM. The strength of our business platform,
the quality and performance of our investment teams and our clear
proposition built on genuine active management mean that, despite
the challenging economic conditions, we are well positioned for the
future.
"As part of our long-term growth strategy, we continue to invest
in our investment and client platform. This has included hiring new
teams and launching new funds. These new funds include our current
range of six dedicated responsible and sustainable funds, including
the launch in March 2022 of our Premier Miton Diversified
Sustainable Growth Fund, our first dedicated responsible and
sustainable multi-asset fund.
"During the period we announced the development of a new
institutional distribution channel, focused on building
relationships with institutional investors and investment
consultants to enable growth in AuM from an additional client
base.
"The long-term investment market implications of current events
remain unclear, including the recovery pathway from the coronavirus
pandemic, the implications of rising interest rates, inflation and
the end of quantitative easing, and wider geopolitical uncertainty.
Nevertheless, we strongly believe that the current environment will
create good long-term opportunities for our active fund managers to
deliver value for investors and growth for our business."
Assets under Management:
Opening Quarter Quarter Closing
AuM 1 2 Year to Market AuM
1 Oct net net date net / investment 31 Mar
2021 flows flows flows performance 2022 (3)
GBPm GBPm GBPm GBPm GBPm GBPm
Equity funds 8,223 (70) (209) (279) (567) 7,377
Multi-asset
funds 3,919 (79) (80) (159) (38) 3,722
Fixed income
funds 594 62 73 135 (21) 708
Investment
trusts 784 (100) (1) (101) (42) 641
Segregated
mandates 411 (1) 4 3 (15) 399
Total 13,931 (188) (213) (401) (683) 12,847
(1) Comprising of 43 open-ended funds, four investment trusts and two segregated mandates.
(2) The quartile performance rankings are based on Investment
Association sector classifications where applicable, this covers 35
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 31 March 2022 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 GBP181 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) 07785 275665 /
John Kiely / Latika Shah 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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