PREMIER MITON GROUP PLC

Regulatory Filings • Oct 11, 2024

National Storage Mechanism | Additional information

RNS Number : 7834H

Premier Miton Group PLC

11 October 2024

Premier Miton Group plc

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

Q4 AuM update

and

Notice of results

Continuing to build a strong business as more positive signs appear and investor interest returns

Premier Miton Group plc (AIM: PMI), the AIM quoted fund management group, today provides an update on its unaudited statement of Assets under Management ('AuM') for the fourth quarter of the financial year (the 'Quarter' or 'Period') to 30 September 2024.

·   £10.7 billion closing AuM at 30 September 2024 (30 September 2023: £9.8 billion), an increase of 9% on the opening position for the financial year

·   £133 million of net outflows for the Quarter

Mike O'Shea, Chief Executive Officer, commented:

" It was pleasing to see that net flows into our funds and segregated mandates were positive during June, July and August. Significant uncertainty ahead of the budget in the UK later this month appears to have dented investor sentiment more recently. As a result, the improving environment for sales that we saw over the summer has reversed.

"Net flows for September were negative and we also saw a meaningful redemption from one of the UK focussed investment trusts we manage, bringing the total outflow for the quarter to £133 million. This is disappointing after the stronger inflows seen over the summer. It is to be hoped that once the full impact of the budget, particularly on capital gains and pensions, is known, then investor confidence will return.

"Encouragingly, though, we continued to see positive flow into the Tellworth funds following their successful integration into the Premier Miton business. Investment performance also continues to be good in many of our key areas. Our UK equity teams have delivered strong returns over the last year as have our multi-asset teams. It has also been pleasing to see improving short term numbers for some of our international equity strategies as equity markets have broadened out in recent months. Both our fixed income and absolute return teams have continued to build on their impressive longer-term numbers. All of which stands us in good stead for when the flow environment improves."        

Assets under Management:

On 30 September 2024, our AuM stood at £10.7 billion.

A reconciliation of AuM and flows over the Quarter is below:

	Equity funds	Multi-asset funds	Fixed income funds	Investment trusts	Segregated mandates	Total
	£m	£m	£m	£m	£m	£m
AuM at 1 July 2024	5,134	2,951	1,308	384	835	10,612
Net flows	(139)	(79)	(24)	(78)	187	(133)
Market / investment performance	111	49	22	7	15	204
AuM at 30 September 2024 1, 2	5,106	2,921	1,306	313	1,037	10,683

A reconciliation of AuM and flows over the year to 30 September 2024 is below:

	Equity funds	Multi-asset funds	Fixed income funds	Investment trusts	Segregated mandates	Total
	£m	£m	£m	£m	£m	£m
AuM at 1 October 2023	4,563	3,068	1,160	448	582	9,821
Net flows	(476)	(462)	67	(88)	201	(758)
Fund / mandate acquisitions 3	368	-	-	-	192	560
Fund / mandate disposals 4	(42)	-	-	(78)	-	(120)
Market / investment performance	693	315	79	31	62	1,180
AuM at 30 September 2024 1, 2	5,106	2,921	1,306	313	1,037	10,683

1 Comprising of 43 open-ended funds, three investment trusts and seven external segregated mandates.

2 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 £266 million.

3 Acquisition of Tellworth Investments LLP and appointment as investment manager to GVQ Investment Funds (Dublin) plc in Q2.

4 Disposal of Premier Miton Worldwide Opportunities Fund and transfer of MIGO Opportunities Trust plc in Q1.

Notice of results

Premier Miton will issue its results for the financial year ending 30 September 2024 on 4 December 2024.

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) David Anderson / Ben Griffiths / St John Hunter	020 7597 4000
Camarco Geoffrey Pelham-Lane / Ben Woodford	07733 124 226 / 07990 653 341

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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