Q2 AuM update

Premier Miton Group plc (AIM: PMI) today provides an update on its unaudited statement of Assets under Management ('AuM') for the second quarter of its current financial year (the 'Quarter' or 'Period').

• £10.7 billion closing AuM at 31 March 2024 (30 September 2023: £9.8 billion)
• Successful addition of £560 million AuM through the acquisition of Tellworth Investments LLP and the appointment as investment manager to GVQ Investment Funds (Dublin) plc
• £268 million of net outflows for the Quarter
• Continued strong relative investment performance with 68% 2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure
• Encouraging shorter term performance profile with 69% 2 of AuM in the first or second quartile over one year

Mike O'Shea, Chief Executive Officer, commented:

"The Group's AuM ended the Quarter at £10.7 billion, an increase of 9% on the opening position for the financial year.

"Long-term investment performance remains relatively strong with 68% 2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure. It has also been encouraging to see shorter term performance on an improving trend as market breadth improves and mid and small cap stocks recover.

"As previously announced, during the Quarter we successfully completed both the acquisition of Tellworth Investments LLP and the take on of the investment management activities of GVQ Investment Funds (Dublin) plc. Both are complementary to our existing business and align with our strategic objective to diversify our product range and enhance our presence in both institutional and international markets.

"The backdrop for active fund sales in the UK retail market has been challenging over the Period, as it has been since interest rates began to rise at the end of 2021. We are now at a point where interest rates are likely to trend lower as we move through 2024 and we believe this will support an improving environment for fund flows and asset values that should particularly benefit Premier Miton. We remain confident that our clear proposition in active management and our belief in the potential of mid-sized and smaller companies to deliver significant long-term outperformance over index strategies, alongside our diversified product range and powerful distribution capabilities will allow the Group to perform well for our clients and our shareholders moving forward."

Assets under Management:

On 31 March 2024, our AuM stood at £10.7 billion.

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

A reconciliation of AuM and flows over the six-month period to 31 March 2024 is below:

1 Comprising of 45 open-ended funds, three investment trusts and six external segregated mandates.

2 The quartile performance rankings are based on Investment Association sector classifications where applicable. This covered a total of 38 open-ended funds since manager inception. Data is sourced from FE Analytics FinXL using the main representative post-RDR share class, based on a total return, UK Sterling basis. All data is as at 31 March 2024 and the performance period relates to when the fund launched or the assumed tenure of the fund manager(s).

3 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 £284 million.

Notice of half year results

Premier Miton will publish its results for the half year to 31 March 2024 on Thursday 30 May 2024.