Q3 AuM update

RNS Number : 4602S

Premier Miton Group PLC

09 July 2020

 

9 July 2020

Premier Miton Group plc

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

Q3 AuM update

Premier Miton strengthens investment capabilities with key new hires as AuM increases to £10.3 billion

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

· Closing AuM of £10.3 billion at 30 June 2020 (31 March 2020: £9.1 billion).

Fund manager appointments and new products

Fixed income

· Lloyd Harris appointed as Head of Fixed Income and lead manager of the Premier Corporate Bond Monthly Income Fund.

· Lloyd joins in August 2020 from Merian Global Investors where he has worked since January 2012.

· He will be joined by other members of the Merian fixed income investment team, including co-manager, Simon Prior.

· The team managed approximately £1 billion¹ across three funds.

· Launch of two new fixed income products planned before the end of the calendar year, subject to regulatory approval.

Global smaller companies

· Alan Rowsell appointed as manager of a planned new global smaller companies fund.

· Alan joins in October 2020 from Aberdeen Standard Investments where he has been manager of the £1.2 billion¹ ASI Global Smaller Companies Fund since 2012.

Mike O'Shea, Chief Executive Officer, commented:

"I am delighted to welcome Lloyd Harris, Simon Prior, Alan Rowsell and their investment analysts to our active investment management team. These hires strengthen our investment capabilities and broaden the product range we can offer our clients.

We will continue to grow our business through the addition of new investment talent and by developing our product range where significant client demand is identified.

The Group's AuM saw a recovery of 12% from the position at 31 March 2020 to end the quarter at £10.3 billion.

The single strategy funds continued to see inflows across several products. Leading this was the European equity investment team with inflows in the Period bringing their AuM to £1.48 billion as at 30 June 2020. I am pleased to report that the LF Miton European Opportunities Fund is the best performing European ex UK equity fund since its launch² and the fund very recently won Best European fund at the Investment Week Fund Manager of the Year Awards 2020 along with best Europe fund in the Money Observer Fund Awards 2020.

There was a slowdown in outflows across the multi-asset and fixed income products compared to the previous two quarters. Looking forward we continue to see growth opportunities across our range of both new and established funds."

Assets under Management

	Opening AuM 1 Oct 2019 £m	Merger 3 £m	Half year  net flows 4 £m	Quarter 3  net flows 4 £m	Closure £m	Year to date net flows £m	Market / investment performance 4 £m	Closing AuM 30 Jun 2020 £m
Equity funds	1,312	3,406	116	95	-	211	(23)	4,906
Multi-asset funds	4,423	795	(325)	(187)	-	(512)	(325)	4,381
Fixed income funds	576	-	(180)	(20)	-	(200)	(11)	365
Investment trusts	150	500	-	(18)	-	(18)	(34)	598
Segregated mandates	95	-	-	-	(96)	(96)	1	-
Total	6,556	4,701	(389)	(130)	(96)	(615)	(392)	10,250

¹   Fund sizes as at 31 May 2020. Source: Provider's own factsheet

²   Source: FE Analytics, data to 30 June 2020 using the B accumulation share class within the Investment Association Europe ex UK sector, income reinvested, mid-to-mid and net of fees in UK Sterling terms

³ Merger of Premier Asset Management Group plc and Miton Group plc on 14 November 2019

⁴ Includes the former Miton Group plc fund range with effect from close of business on 14 November 2019

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) Kevin Cruickshank / Charles Farquhar / Huw Jeremy	020 7260 1000
Liberum Capital Limited (Joint Broker) Richard Crawley / Jamie Richards	020 3100 2000
Smithfield Consultants (Financial PR) John Kiely / Andrew Wilde / Imogen Gardam	020 3047 2544 / 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.

 

END

 

 

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