Premier Miton Group PLC - Guildford, Surrey-based asset management firm - Assets under management at December 31, the end of its first quarter, totalled GBP10.1 billion, up 3.1% from GBP9.8 billion at September 30. Net fund outflows for the quarter totalled approximately GBP200 million, including from sale of the Premier Miton Worldwide Opportunities Fund, with mandate transfer and fund disposal totalling around GBP100 million. Company also reports continued "relatively strong" investment performance with 75% of funds in first or second quartile of their sectors since launch or fund manager tenure.
Company also agreed during the quarter to take on investment management of a Dublin-based UCITS platform with approximately GBP100 million in AuM, as part of its "ambition to develop [its] presence in the offshore fund market". Neither this or the Worldwide Opportunities fund disposal are material to Premier Miton's cash position.
Current stock price: 64.45 pence, up 7.4% on Friday morning
12-month change: down 45%
By Emma Curzon, Alliance News reporter
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Premier Miton (PMI)