Premier Miton Group PLC Q2 AuM Update (1941W)
April 14 2023 - 2:00AM
UK Regulatory
TIDMPMI
RNS Number : 1941W
Premier Miton Group PLC
14 April 2023
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').
-- GBP11.0 billion closing AuM at 31 March 2023 (30 September 2022: GBP10.6 billion)
-- GBP40 million of net outflows for the Quarter (GBP32 million
net outflows for the financial year to date)
-- Continued strong relative investment performance with 76% (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 GBP11.0 billion, an
increase of 4% on the opening position for the financial year. We
saw early signs of returning confidence amongst fund buyers in the
latter stages of 2022 but this has not followed through into 2023
and the banking shocks that unfolded towards the end of the period
have again dented risk appetite. It appears from wider industry
data that investors have continued to shun UK equities but have
also been more wary on active European and Global equities. There
has, however, been an uptick in demand for fixed income strategies
where we are well placed to serve our clients.
"Our own experience broadly reflects this backdrop with
continued inflows into our fixed income, US equity and Diversified
Multi Asset funds and outflows from our European equity and UK
equity funds. In total, the Group experienced net outflows for the
six months to 31 March 2023 totalling GBP32 million.
"We continue to invest in our business as part of our long-term
growth strategy and we will be adding to our suite of dedicated
responsible and sustainable funds with the launch of the Premier
Miton Emerging Markets Sustainable Fund on 21 April 2023. The fund
will be managed by Fiona Manning and Will Scholes who joined the
Group at the end of August 2022 from abrdn.
"Our primary focus is to deliver strong long-term investment
performance for our investors, and it is pleasing to note that 76%
(2) of funds are in the first or second quartile of their
respective sectors since launch or fund manager tenure.
" Despite the current headwinds, we continue to have a
well-diversified portfolio of actively managed funds which will be
attractive to new investors as and when confidence returns."
Assets under Management:
Year
Opening Quarter Quarter Year Quarter Quarter to date Closing
AuM 1 2 to date 1 Market 2 Market Market AuM
1 Oct net net net / investment / investment / investment 31 Mar
2022 flows flows flows performance performance performance 2023 (1,3)
GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm
Equity
funds 5,631 (169) (191) (360) 393 (27) 366 5,637
Multi-asset
funds 3,263 (17) (52) (69) 113 (33) 80 3,274
Fixed income
funds 750 186 194 380 8 (10) (2) 1,128
Investment
trusts 519 1 (3) (2) 15 (19) (4) 513
Segregated
mandates 402 7 12 19 18 4 22 443
Total 10,565 8 (40) (32) 547 (85) 462 10,995
(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 33 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 31 March 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 GBP239 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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