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9 Jul 2019 07:00
9 July 2019
Premier Asset Management Group PLC
("Premier" or the "Company")
Q3 Trading Update and Interim Dividend
Premier Asset Management Group PLC (AIM: PAM) today announces a trading update for the Company's quarter ended 30 June 2019.
Highlights
· Assets under management (AUM) were £6.7 billion as at 30 June 2019 (30 June 2018: £6.8 billion)
· Net outflows of £55 million in the three months to 30 June 2019 (3 months to 30 June 2018: net inflows of £202 million)
· Net inflows of £133 million for the rolling twelve months to 30 June 2019 (rolling twelve months to 30 June 2018: £819 million)
· Performance *
o Over three years to 30 June 2019: 78% of AUM were above median
o Over five years to 30 June 2019: 84% of AUM were above median
· Quarterly dividend per share of 1.70p vs 1.65p for the same period last year
* Performance figures represent 84% of Premier's total AUM as at 30 June 2019 and exclude absolute return funds, property securities fund, investment trusts and segregated mandates. Figures are shown relative to respective Investment Association sectors. Source: FE Analytics, data to 30 June 2019. Net income reinvested. Data shown net of all fund charges. Premier Diversified Growth Fund: class D income share class. Premier UK Money Market Fund: class B income units. Other funds: Class C income or accumulation shares.
Mike O'Shea, Chief Executive Officer, commented:
"The period has seen a continuation of challenging conditions for the investment industry, including record low industry retail net flows, and this has resulted in net outflows for Premier of £55 million during the quarter. Consequently our AUM has decreased slightly by £53 million to £6.7 billion.
Notwithstanding the challenging industry headwinds, we continue to believe that our focus on relevant products, good investment outcomes after charges and a strong distribution capability means our business remains well positioned for the future when sentiment improves."
AUM reconciliation
(£m) | Nine months ended 30 June 2019 | Nine months ended 30 June 2018 |
|
Opening AUM | 6,865.5 | 6,087.8 |
|
Sales | 1,282.4 | 1,719.9 |
|
Redemptions | (1,269.8) | (1,106.5) |
|
Net flows | 12.6 | 613.4 |
|
Closures | (72.9) | - |
|
Performance | (64.9) | 71.7 |
|
Closing AUM | 6,740.3 | 6,772.9 |
|
Dividend
The Board of Premier has approved the payment of an interim dividend of 1.70 pence per share for the three-month period ended 30 June 2019. The ex-dividend date will be 1 August 2019 and the associated record date will be 2 August 2019. The payment date will be 6 September 2019.
Enquiries:
Premier Asset Management Group PLC | Tel: 01483 306090 Mike O'Shea
|
Numis Securities Limited (NOMAD and Broker) | Tel: 020 7260 1000 Kevin Cruickshank Charles Farquhar
|
Liberum Capital Limited (Joint Broker) | Tel: 020 3100 2000 Richard Crawley Jamie Richards
|
Smithfield Consultants (Financial PR) | Tel: 020 3047 2544 John Kiely Andrew Wilde |
Note to editors
About Premier
Premier is a UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds. Premier had £6.7 billion of assets under management as at 30 June 2019.
LEI Number: 213800LK2M4CLJ4H2V85
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