Q4 AuM update and Notice of results
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your PMI notes
Q4 AuM update
and
Notice of results
Continuing to build a strong business as more positive signs appear and investor interest returns
Premier Miton Group plc (AIM: PMI), the AIM quoted fund management group, today provides an update on its unaudited statement of Assets under Management ('AuM') for the fourth quarter of the financial year (the 'Quarter' or 'Period') to 30 September 2024.
- £10.7 billion closing AuM at 30 September 2024 (30 September 2023: £9.8 billion), an increase of 9% on the opening position for the financial year
- £133 million of net outflows for the Quarter
Mike O'Shea, Chief Executive Officer, commented:
"It was pleasing to see that net flows into our funds and segregated mandates were positive during June, July and August. Significant uncertainty ahead of the budget in the UK later this month appears to have dented investor sentiment more recently. As a result, the improving environment for sales that we saw over the summer has reversed.
"Net flows for September were negative and we also saw a meaningful redemption from one of the UK focussed investment trusts we manage, bringing the total outflow for the quarter to £133 million. This is disappointing after the stronger inflows seen over the summer. It is to be hoped that once the full impact of the budget, particularly on capital gains and pensions, is known, then investor confidence will return.
"Encouragingly, though, we continued to see positive flow into the Tellworth funds following their successful integration into the Premier Miton business. Investment performance also continues to be good in many of our key areas. Our UK equity teams have delivered strong returns over the last year as have our multi-asset teams. It has also been pleasing to see improving short term numbers for some of our international equity strategies as equity markets have broadened out in recent months. Both our fixed income and absolute return teams have continued to build on their impressive longer-term numbers. All of which stands us in good stead for when the flow environment improves."
Assets under Management:
On 30 September 2024, our AuM stood at £10.7 billion.
A reconciliation of AuM and flows over the Quarter is below:
| Equity funds | Multi-asset funds | Fixed income funds | Investment trusts | Segregated mandates | Total | |
|---|---|---|---|---|---|---|
| £m | £m | £m | £m | £m | £m | |
| AuM at 1 July 2024 | 5,134 | 2,951 | 1,308 | 384 | 835 | 10,612 |
| Net flows | (139) | (79) | (24) | (78) | 187 | (133) |
| Market / investment performance | 111 | 49 | 22 | 7 | 15 | 204 |
| AuM at 30 September 2024 1, 2 | 5,106 | 2,921 | 1,306 | 313 | 1,037 | 10,683 |
A reconciliation of AuM and flows over the year to 30 September 2024 is below:
| Equity funds | Multi-asset funds | Fixed income funds | Investment trusts | Segregated mandates | Total | |
|---|---|---|---|---|---|---|
| £m | £m | £m | £m | £m | £m | |
| AuM at 1 October 2023 | 4,563 | 3,068 | 1,160 | 448 | 582 | 9,821 |
| Net flows | (476) | (462) | 67 | (88) | 201 | (758) |
| Fund / mandate acquisitions 3 | 368 | - | - | - | 192 | 560 |
| Fund / mandate disposals 4 | (42) | - | - | (78) | - | (120) |
| Market / investment performance | 693 | 315 | 79 | 31 | 62 | 1,180 |
| AuM at 30 September 2024 1, 2 | 5,106 | 2,921 | 1,306 | 313 | 1,037 | 10,683 |
1 Comprising of 43 open-ended funds, three investment trusts and seven external segregated mandates.
2 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 £266 million.
Notice of results
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.