Trading Statement

RNS Number : 0820U

Premier Asset Management Group PLC

10 July 2018

 

10 July 2018

Premier Asset Management Group PLC

("Premier" or the "Company")

Q3 2018 Trading Update and Interim Dividend

Premier Asset Management Group PLC (AIM: PAM) today announces a trading update for the Company's quarter ended 30 June 2018.

Highlights

·     Assets under management (AUM) were £6.8 billion as at 30 June 2018 (30 June 2017: £5.8 billion)

·     Total net inflows for the quarter of £202 million (3 months to 30 June 2017: £231 million)

·     Twenty first successive quarter of positive net inflows

·     Total net inflows of £819 million for the rolling twelve months to 30 June 2018 (rolling twelve months to 30 June 2017: £636 million)

·     Continued strong investment performance net of all fund charges*:

o  Over three years to 30 June 2018: 65% of AUM were above median

o  Over five years to 30 June 2018: 96% of AUM were above median

·     Quarterly dividend per share of 1.65p vs 1.25p for the same period last year

* Performance figures represent 86% of Premier's total AUM as at 30 June 2018 and exclude absolute return funds, investment trusts and segregated mandates. Median and quartile ranking figures are shown relative to respective Investment Association sectors. Source: FE Analytics, data to 30 June 2018.  Net income reinvested. Data shown net of all fund charges.  C share class, or, where a C share class was not available for the full time period, the pre RDR bundled or equivalent retail share class has been used for the period the C share class was not available.

Mike O'Shea, Chief Executive Officer, commented:

"We are pleased to report another strong quarter for the business. Net inflows of £202 million represented our twenty-first successive quarter of positive net inflows, AUM increased to a record high, and fund performance remains strong. These inflows, plus market movements, resulted in our AUM increasing to £6.8 billion. This is £1.0 billion higher than the level 12 months ago. These results show that Premier is well positioned in terms of our product range, performance and distribution capability.

"Against a background for investment firms and our clients of economic and political uncertainty, combined with the very fast pace of technological change, we  believe our focus on relevant, actively managed investment products, including our multi-asset, equity and absolute return funds, combined with our focus on client service, means we remain well positioned for the future."

AUM reconciliation

(£m)	Nine months ended 30 June 2018	Nine months ended 30 June 2017
Opening AUM	6,087.8	4,998.5
Sales	1,719.9	1,619.5
Redemptions	(1,106.5)	(1,078.2)
Net flows	613.4	541.3
Performance	71.7	302.0
Closing AUM	6,772.9	5,841.8

Dividend 

The Board of Premier has approved the payment of an interim dividend of 1.65 pence per share for the three-month period ended 30 June 2018. The ex-dividend date will be 2 August 2018 and the associated record date will be 3 August 2018.  The payment date will be 31 August 2018.

Enquiries:

Premier Asset Management Group PLC	Tel: [phone] Mike O'Shea
Numis Securities Limited (NOMAD and Broker)	Tel: [phone] Kevin Cruickshank Charles Farquhar
Liberum Capital Limited (Joint Broker)	Tel: [phone] Richard Crawley Jamie Richards
Smithfield Consultants (Financial PR)	Tel: [phone] John Kiely Andrew Wilde

About Premier

Premier is a fast-growing UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds.  Premier had £6.8 billion of assets under management as at 30 June 2018.

LEI Number: 213800LK2M4CLJ4H2V85

 

END

 

 

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