Premier Miton posts healthy growth in AuM

Premier Miton Group reported £13.9bn in assets under management at the end of its financial year on Friday, up from £10.6bn year-on-year.

The AIM-traded asset manager said net inflows for the year ended 30 September totalled £830m, swinging from net outflows of £619m in the 2020 financial year.

For the fourth quarter, net inflows totalled £120m, while the company said a total of 501 products were managed by 17 investment teams at the end of the year.

“The group delivered another quarter of positive net inflows bringing the total for the 2021 financial year to £830m,” said chief executive officer Mike O'Shea.

“The net inflows, combined with strong investment performance, have driven the growth in the group's assets under management to reach £13.9bn at the period end, representing an increase of 31% for the financial year.

“The group's assets under management are well diversified across 17 investment teams and a broad range of equity, fixed income, multi-asset and absolute return investment strategies.”

O'Shea said the firm’s investment teams were delivering consistent investment performance, with a “good balance” between its established and newer fund managers, who were “well-positioned” to drive Premier Miton’s “ambitious” organic growth plans.

“As a business, our primary aim is to actively and responsibly manage our clients' investments for a better financial future.

“We are proud of the fact that, where measuring investment performance against the relevant peer group is appropriate, 80% of our open-ended funds are in their first or second quartiles for investment performance since manager inception.

“During the quarter, we added to our range of income funds with the launch of the Premier Miton European Equity Income Fund.”

Mike O'Shea said the new fund would bring further choice for clients seeking diversified equity income strategies at a time of low interest rates and low bond yields.

“We also completed the merger of the Premier Global Infrastructure Income Fund and the Premier Miton Global Infrastructure Income Fund, creating a single, larger fund that helps to reduce investor costs and brings scale potential for this strategy.

“I believe our core qualities of high performing, genuinely active investment teams, relevant and diversified investment products, robust balance sheet and proven distribution capabilities mean we are well-positioned for the coming financial year.”

At 1204 BST, shares in Premier Miton Group were up 0.86% at 176.5p.