Coronavirus Update

Premier Miton Group Q1 AuM Update

This content has been sourced from: https://www.investegate.co.uk/premier-miton-group/...

Premier Miton completes merger integration and sees AuM increase to £ 12 billion.

· Closing AuM of £12.0 billion at 31 December 2020 (30 September 2020: £10.6 billion)

· Net inflows of £166   million during the Quarter

 

 

Mike O'Shea, Chief Executive Officer, commented:

"The Group's AuM grew by  13% from the position at 30 September 2020 to end the Quarter at £12 billion.

It is pleasing to see a return to net inflows for the Group driven by positive flows into our equity and fixed income strategies. Unfortunately, we continued to see outflows from our multi-asset multi-manager funds although there has been a noticeable improvement in short-term investment performance.

I am also pleased to report that during the Quarter, the final operational stages of the integration of the former Premier and Miton businesses were completed. This allows the Group to move forward with a single operating platform across our entire fund range.

At the end of the Period, the UK entered into a trade agreement with the EU, which one hopes will end the economic and political uncertainty around Brexit. This in turn should be positive for UK equities, which have suffered an extended period of relative underperformance. Premier Miton has a range of top performing UK equity funds that are well placed to capture market share as investor interest returns to this area of the market.

Finally, we look forward to the launch of the Premier Miton Global Smaller Companies Fund on 22 March 2021. This fund will be managed by Alan Rowsell who successfully ran a similar fund at Aberdeen Standard Investments. Premier Miton already has extensive smaller companies experience across UK, US and European equities and the new fund will draw on this, alongside Alan's own expertise, to provide further investment choice for our clients." 

 

Assets under Management:

 

Opening

AuM

1 Oct 2020

£m

 

Quarter 1

 net flows

£m

Market / investment performance

£m

Closing

AuM

31 Dec 2020

£m

 

Equity funds

5,404

196

737

6,337

Multi-asset funds

4,119

(384)

355

4,090

Fixed income funds

486

31

17

534

Investment trusts

599

(17)

93

675

Segregated mandates

-

340

11

351

 

Total

10,608

166

1,213

11,987