Redemptions over the six months to 31 March slowed marginally to £723.3m, down 1% from £730.5m over the corresponding period in 2017.
Outflows over the period cut into its £1.13bn worth of sales, resulting in £411m in net inflows, which were 32% higher than the year prior. Including the latest second quarter figures, the group has seen 20 successive quarters of positive flows.
Recently the asset manager has been hit by higher outflows than it has seen historically. While the group took in net sales of £965m and £778m in 2015 and 2016, it only generated £747m in 2017.
For the rolling 12-month period, net inflows reached £847m, up 27% year-on-year.
Total assets under management at the fund group climbed from £6.09bn to £6.37bn by the end of March.
Commenting on the half year figures, Mike O’Shea, the group’s chief executive (pictured), said Premier has “continued to make solid progress” during “a more difficult market environment in recent months”, delivering “good relative investment performance after all fund charges”.
But he said the group’s outlook remains cautious, predicting higher volatility and continued political uncertainty.
“Looking ahead, it seems likely that although interest rates will head higher as the global economy improves, they will remain lower overall than in previous economic cycles,” he said.
“With equity markets now looking through the current economic upturn to what lies beyond, it is likely that market volatility will be higher than in recent years and political uncertainty will continue to have an impact.”
While O’Shea said the firm’s focus continues to be on its existing product range of 12 multi-asset funds, equity funds and absolute return products, he hinted that the firm would continue to develop its product range.
Last year, the firm re-launched the Premier Optimum Income Fund with a new target yield of 7% a year, led by ex-Schroders man Geoff Kirk.
