Premier Miton Group saw £33m of net outflows across its products over three months to the end of December, according to an AUM update published on the London Stock Exchange today (16 January).
While the firm saw net inflows into open-ended funds and segregated mandates across November and December, October marked a challenging period in terms of market performance investor sentiment.
Assets under management shrunk lightly from £10,683m at the 1 October, to £10,672m on the 31 December 2024, marking a 0.1% decrease.
UK equity products dropped from £1,910m to £1,801m, a 5.7% fall, while the firm’s international equity assets increased by 1% from £3,274m to £3,306m.
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Premier Miton Group’s multi-asset multi-manager products suffered £56m of net outflows and a £20m slide due to market performance, meaning AUM reduced from £1,132m to £1,056m. Meanwhile, its multi-asset direct range suffered a £26m fall due to investment performance, but saw £3m of net flows from investors, meaning assets fell by 1.3% from £1,727m to £1,704m.
The group’s fixed income products saw net flows over the quarter at £27m, which were further bolstered by £13m of positive market performance. This meant AUM increased by 1.9% from £2,062m to £2,102m.
The biggest inflows, however, were seen into Premier Miton Group’s absolute return products at £114m. Including positive market contributions of £11m, this meant assets rose by 21.6% from £578m to £703m.
‘A noticeable improvement’
Mike O’Shea (pictured), chief executive officer, said he is pleased to report a “somewhat better quarter in terms of fund flows” compared to previous results.
“Uncertainty ahead of the UK budget was evident during October and this resulted in net outflows during the month. However, it was pleasing to note that flows turned slightly positive in both November and December.
“This was largely driven by positive flow into our US equity, diversified multi-asset, fixed income and absolute return strategies alongside continued outflows from our UK equity strategies. The net result for the quarter was an outflow of £33m which is a noticeable improvement on recent quarters.
“We were also pleased to see continuing demand for our absolute return strategies with an additional $50m secured for an existing mandate during the period which was invested in early January.”
The CEO added that, due to the company’s “diversified product mix” and “absolute focus on delivering strong investment performance”, the believes Premier Miton is “well-placed to benefit from an improving flow environment”.
“We have several strategies with strong investment performance that sit in key demand pools here in the UK and we are positive on the outlook for fund flows in these areas. We also continue to develop our presence in international markets with several funds registered in South Africa and new fund launches planned to meet investor demand within our Dublin UCITS.”