Premier Miton suffers £619m outflows in first year post merger

AUM up over six months

Anna Fedorova
clock • 2 min read

Premier Miton Group has reported net outflows of £619m during its full financial year to the end of September and a fall in profit before tax as a result of the "significant market disruption" resulting from the Covid-19 pandemic.

However, adjusted profit before tax was up 18% to £22.4m compared to the previous year, while total assets under management rose 16% since the half year to stand at £10.6bn. In addition, chief executive Mike O'Shea said that although the group saw net outflows, he is "encouraged by our continued positive fund flow momentum into our equity and fixed income funds, the strong performance across our broad range of multi-asset funds, and the potential of our new investment capabilities" as a result of the merger with Miton. He said: "It has been a landmark year for Premier Miton. Our finan...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

Multi-Asset Roadshow 2024: PA is coming to a city near you!

Multi-Asset Roadshow 2024: PA is coming to a city near you!

Join us in Leeds, Warrington, Birmingham, Bristol and London

Professional Adviser
clock 07 December 2023 • 1 min read
The firm was co-founded by MP Jacob Rees-Mogg (pictured).

Somerset Capital Management to close after SJP redemptions

Two funds to be transferred after firm shuts

Elliot Gulliver-Needham
clock 07 December 2023 • 1 min read
The report also revealed that just six holdings of a total ten hold any value, with the remaining four companies representing no value in the fund.

Remaining Woodford fund assets shrink 40% since last distribution

Just six holdings of a total ten hold any value

James Baxter-Derrington
clock 07 December 2023 • 3 min read