PREMIER MITON GROUP PLC

Earnings Release • Jan 10, 2020

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RNS Number : 3663Z

Premier Miton Group PLC

10 January 2020

Premier Miton Group plc

('Premier Miton' or the 'Company')

Q1 AuM update

Premier Miton Group plc (AIM: PMI) today announces a quarterly update of its unaudited statement of Assets under Management ('AuM') for the three months to 31 December 2019 (the 'Period').

Highlights

·   Merger of Premier Asset Management Group plc and Miton Group plc to create Premier Miton Group plc completed on 14 November 2019

·    Combined AuM of £11.2 billion at 14 November 2019

·    Closing AuM of £11.6 billion at 31 December 2019 (31 December 2018: £6.4 billion)

·    Net outflows of £222 million in the Period (3 months to 31 December 2018: £65 million net inflows)

Assets under Management

	Opening AuM 1 Oct 2019 £m	Merger1 £m		Quarter 1  net flows2 £m	Market / investment performance2 £m	Closing AuM 31 Dec 2019 £m
Equity funds	1,625	3,406		(57)	299	5,273
Multi-asset funds	4,423	795		(119)	163	5,262
Fixed income funds	263	-		(46)	10	227
Investment trusts	150	500		-	39	689
Segregated mandates	95	-		-	9	104
Total	6,556	4,701		(222)	520	11,555

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

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

Mike O'Shea, Chief Executive Officer, commented:

"We are delighted that the merger between Premier Asset Management Group plc and Miton Group plc was completed mid-way through the Period under review. Although it is still early days, progress has been swift in terms of creating the management structure for the new group and the planned synergies are now underway. We will update shareholders following the end of the half year period on progress.

"With UK political uncertainty beginning to lift, we believe that investor confidence will improve in 2020. Against an expected more favourable background, we believe the combination of our broader product range, strong investment performance across different investment strategies, including our equity and multi-asset funds, and our enlarged distribution and marketing capabilities, means we are well placed for future growth."

Dividend policy

The Company has adopted a quarterly dividend policy, expecting to pay three smaller, interim dividends, representing approximately half of the estimated total dividend for the full financial year, followed by a larger, final interim dividend.

The Board of Premier Miton has approved the payment of an interim dividend of 1.75 pence per share for the three-month period ended 31 December 2019. The ex-dividend date will be 30 January 2020 and the associated record date will be 31 January 2020.  The payment date will be 28 February 2020.

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	020 3047 2544

Notes to editors:

Premier Miton is focused on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity, absolute return and fixed income. The Company had assets under management of £11.6 billion as at 31 December 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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