Premier Asset Management ups dividend though inflows stumble

(Sharecast News) - Premier Asset Management Group's shares climbed on Thursday after the company upped its quarterly dividend as net flows slowed but still remained positive.The quarterly dividend for the three months ended 31 December was approved at 1.70p per share, up from 1.65p per share at the same point last year, following the company's twenty-third consecutive month of positive inflows.However, the AIM-traded company's reported total net inflows for the period of £65m, significantly down on previous quarters, which had contributed to total net inflows of £562m over the last twelve months.The figure of £562m was significantly below the prior year, when net inflows reached £843m.Mike O'Shea, chief executive of Premier AM, said: "It has been a challenging quarter, with subdued net inflows against a background of economic and political uncertainty, and market volatility. Over the period the UK equity market fell 9.6% and global stock markets fell 10.5%. We believe the continued uncertain environment is driving nervousness amongst investors generally."Assets under management remained constant at £6.4bn at the period end and over the five years ended 31 December 84% of assets were above median in terms of performance."We are confident our strong distribution capabilities, coupled with our continued strategy of focusing on active management of relevant investment products, including our twelve multi-asset funds and range of income funds, mean we continue to be well placed for the future," said O'Shea.Premier AM's shares were up 7.01% at 194.75p at 0949 GMT.