Trading Statement

RNS Number : 8622E

Premier Asset Management Group PLC

09 July 2019

 

9 July 2019

Premier Asset Management Group PLC

("Premier" or the "Company")

Q3 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 2019.

Highlights

·    Assets under management (AUM) were £6.7 billion as at 30 June 2019 (30 June 2018: £6.8 billion)

·    Net outflows of £55 million in the three months to 30 June 2019 (3 months to 30 June 2018: net inflows of £202 million)

·    Net inflows of £133 million for the rolling twelve months to 30 June 2019 (rolling twelve months to 30 June 2018: £819 million)

·    Performance *

o  Over three years to 30 June 2019: 78% of AUM were above median

o  Over five years to 30 June 2019: 84% of AUM were above median

·    Quarterly dividend per share of 1.70p vs 1.65p for the same period last year

* Performance figures represent 84% of Premier's total AUM as at 30 June 2019 and exclude absolute return funds, property securities fund, investment trusts and segregated mandates. Figures are shown relative to respective Investment Association sectors.  Source: FE Analytics, data to 30 June 2019. Net income reinvested. Data shown net of all fund charges. Premier Diversified Growth Fund: class D income share class. Premier UK Money Market Fund: class B income units. Other funds: Class C income or accumulation shares.

Mike O'Shea, Chief Executive Officer, commented:

"The period has seen a continuation of challenging conditions for the investment industry, including record low industry retail net flows, and this has resulted in net outflows for Premier of £55 million during the quarter.  Consequently our AUM has decreased slightly by £53 million to £6.7 billion.

Notwithstanding the challenging industry headwinds, we continue to believe that our focus on relevant products, good investment outcomes after charges and a strong distribution capability means our business remains well positioned for the future when sentiment improves."

AUM reconciliation

(£m)	Nine months ended 30 June 2019	Nine months ended 30 June 2018
Opening AUM	6,865.5	6,087.8
Sales	1,282.4	1,719.9
Redemptions	(1,269.8)	(1,106.5)
Net flows	12.6	613.4
Closures	(72.9)	-
Performance	(64.9)	71.7
Closing AUM	6,740.3	6,772.9

Dividend 

The Board of Premier has approved the payment of an interim dividend of 1.70 pence per share for the three-month period ended 30 June 2019. The ex-dividend date will be 1 August 2019 and the associated record date will be 2 August 2019.  The payment date will be 6 September 2019.

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

Note to editors 

About Premier

Premier is a 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 £6.7 billion of assets under management as at 30 June 2019.

LEI Number: 213800LK2M4CLJ4H2V85

 

END

 

 

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