Premier reveals 'disappointing' outflows prior to Miton merger

£233m in outflows over 12 months

Beth Brearley
clock • 2 min read

Premier Asset Management saw £233m in outflows in the 12 months to 30 September 2019, with assets under management falling to £6.6bn ahead of the firm's merger with Miton Group, which completed on 14 November.

This compares to net inflows of £734m in the 12 months to 30 September 2018 and AUM of £6.9bn at the end of that period. Operating profit fell from £13.7m in the 2018 financial year to £15.9m in 2019. Chief executive officer of Premier Miton, Mike O'Shea attributed the outflows to "a difficult year for the business" and Brexit-related uncertainty, with positive inflows in the first half of the year cancelled out by net outflows in the second half of the year. The merger of Premier with Miton has boosted the total AUM of the combined group to £11.1bn, as at 31 October. Premier Miton...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: A dot-com lesson on diversification amid the AI boom

Partner Insight: A dot-com lesson on diversification amid the AI boom

Parallels between the dot-com bubble and today’s AI-driven market returns offer an important reminder about portfolio diversification.

Partner Insight: The Dividend Deluge

Partner Insight: The Dividend Deluge

Dividend investing has gained prominence, and it’s essential to navigate this golden period effectively.

Mark Peden, Investment Manager, Aegon Asset Management
clock 04 July 2024 • 6 min read
Partner Insight: Investing in a sustainable future goes beyond simply avoiding 'dirty' industries

Partner Insight: Investing in a sustainable future goes beyond simply avoiding 'dirty' industries

In this Q&A, Rory Sandilands, co-manager of the Aegon Global Short Dated Climate Transition, Aegon Absolute Return Bond and Aegon Investment Grade Bond strategies says recognising opportunity in companies positioned for a sustainable future requires a forward-looking inclusive framework that spans industries.

Sarka Halas
clock 02 July 2024 • 5 min read
Trustpilot