PREMIER MITON GROUP PLC

Regulatory Filings • Jan 12, 2024

National Storage Mechanism | Additional information

RNS Number : 4603Z

Premier Miton Group PLC

12 January 2024

Premier Miton Group plc

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

Q1 AuM update

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

·   £10.1 billion closing AuM at 31 December 2023 (30 September 2023: £9.8 billion)

·   £0.2 billion of net fund outflows for the Quarter

·   £0.1 billion of mandate transfer and fund disposal 4

·   Continued strong relative investment performance with 75% 2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure

Mike O'Shea, Chief Executive Officer, commented:

"The Group's AuM ended the Quarter at £10.1 billion, an increase of 3% on the opening position for the year. The closing AuM and the net outflows for the Quarter include the sale of the Premier Miton Worldwide Opportunities Fund and the previously announced transfer of the MIGO Opportunities Trust plc to Asset Value Investors, these had a combined AuM of £0.1 billion.

As part of our ambition to develop the Group's presence in the offshore fund market, we are pleased to announce that during the period we agreed to take on the investment management of a Dublin based UCITS platform with approximately £0.1 billion of AuM. This will be the foundation of our offshore fund development plans enabling us to distribute our fund management capabilities across a broader client base. The appointment remains subject to normal regulatory clearances and is expected to complete in February 2024. Further details will be announced in due course. The assets of the Dublin UCITS platform will be managed by the Group's existing fund management teams and no new employees will be joining the Group as a result. Neither the consideration from the sale of the Worldwide Opportunities fund or for the appointment to the Dublin UCITS platform are material to the Group's cash position.

I am pleased to note that the improvement in short term performance mentioned at the time of our full year results announcement has continued into the calendar year end. As a result, our investment performance remains relatively strong with 75% 2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure."

Assets under Management:

	Opening AuM 1 Oct 2023 £m	Quarter 1  net flows £m	Market / investment performance £m	Closing AuM 31 Dec 2023 1,3 £m
Equity funds	4,563	(253)	358	4,668
Multi-asset funds	3,068	(141)	156	3,083
Fixed income funds	1,160	112	37	1,309
Investment trusts	448	(79)	8	377
Segregated mandates	582	23	31	636
Total	9,821	(338)	590	10,073

1 Comprising of 40 open-ended funds, three investment trusts and two external segregated mandates.

2 The quartile performance rankings are based on Investment Association sector classifications where applicable. This covered a total of 36 open-ended funds since manager inception. Data is sourced from FE Analytics FinXL using the main representative post-RDR share class, based on a total return, UK Sterling basis. All data is as at 31 December 2023 and the performance period relates to when the fund launched or the assumed tenure of the fund manager(s).

3 AuM and net flows are presented after the removal of AuM invested in other funds managed by the Group. At the Period end these totalled £267 million.

4 Figure is included within the total Quarter 1 net flows in the table above (within the AuM of Equity funds and Investment trusts).

ENDS

For further information, please contact:

Premier Miton Group plc Mike O'Shea, Chief Executive Officer	01483 306 090
Investec Bank plc (Nominated Adviser and Broker) Bruce Garrow / Ben Griffiths / Virginia Bull / Harry Hargreaves	020 7597 4000
Edelman Smithfield Consultants (Financial PR) John Kiely / Latika Shah	07785 275665 / 07950 671948

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.

LEI Number: 213800LK2M4CLJ4H2V85

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