Premier Miton Group PLC Q1 AuM Update (4603Z)
January 12 2024 - 2:00AM
UK Regulatory
TIDMPMI
RNS Number : 4603Z
Premier Miton Group PLC
12 January 2024
Premier Miton Group plc
('Premier Miton', 'Group' or the 'Company')
Q1 AuM update
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').
-- GBP10.1 billion closing AuM at 31 December 2023 (30 September 2023: GBP9.8 billion)
-- GBP0.2 billion of net fund outflows for the Quarter
-- GBP0.1 billion of mandate transfer and fund disposal (4)
-- Continued strong relative investment performance with 75% (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 GBP10.1 billion, an
increase of 3% on the opening position for the year. The closing
AuM and the net outflows for the Quarter include the sale of the
Premier Miton Worldwide Opportunities Fund and the previously
announced transfer of the MIGO Opportunities Trust plc to Asset
Value Investors, these had a combined AuM of GBP0.1 billion.
As part of our ambition to develop the Group's presence in the
offshore fund market, we are pleased to announce that during the
period we agreed to take on the investment management of a Dublin
based UCITS platform with approximately GBP0.1 billion of AuM. This
will be the foundation of our offshore fund development plans
enabling us to distribute our fund management capabilities across a
broader client base. The appointment remains subject to normal
regulatory clearances and is expected to complete in February 2024.
Further details will be announced in due course. The assets of the
Dublin UCITS platform will be managed by the Group's existing fund
management teams and no new employees will be joining the Group as
a result. Neither the consideration from the sale of the Worldwide
Opportunities fund or for the appointment to the Dublin UCITS
platform are material to the Group's cash position.
I am pleased to note that the improvement in short term
performance mentioned at the time of our full year results
announcement has continued into the calendar year end. As a result,
our investment performance remains relatively strong with 75% (2)
of funds in the first or second quartile of their respective
sectors since launch or fund manager tenure. "
Assets under Management:
Opening Quarter Closing
AuM 1 Market AuM
1 Oct net / investment 31 Dec
2023 flows performance 2023 (1,3)
GBPm GBPm GBPm GBPm
Equity funds 4,563 (253) 358 4,668
Multi-asset
funds 3,068 (141) 156 3,083
Fixed income
funds 1,160 112 37 1,309
Investment
trusts 448 (79) 8 377
Segregated
mandates 582 23 31 636
Total 9,821 (338) 590 10,073
(1) Comprising of 40 open-ended funds, three 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 36 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 December 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 GBP267 million.
(4) Figure is included within the total Quarter 1 net flows in
the table above (within the AuM of Equity funds and Investment
trusts).
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 7597 4000
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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