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RNS

Trading Statement

Released 07:00 09-Jul-2019

RNS Number : 8622E
Premier Asset Management Group PLC
09 July 2019
 

9 July 2019

Premier Asset Management Group PLC

("Premier" or the "Company")

Q3 Trading Update and Interim Dividend

 

Premier Asset Management Group PLC (AIM: PAM) today announces a trading update for the Company's quarter ended 30 June 2019.

 

Highlights

 

·    Assets under management (AUM) were £6.7 billion as at 30 June 2019 (30 June 2018: £6.8 billion)

·    Net outflows of £55 million in the three months to 30 June 2019 (3 months to 30 June 2018: net inflows of £202 million)

·    Net inflows of £133 million for the rolling twelve months to 30 June 2019 (rolling twelve months to 30 June 2018: £819 million)

·    Performance *

Over three years to 30 June 2019: 78% of AUM were above median

Over five years to 30 June 2019: 84% of AUM were above median

·    Quarterly dividend per share of 1.70p vs 1.65p for the same period last year

 

* Performance figures represent 84% of Premier's total AUM as at 30 June 2019 and exclude absolute return funds, property securities fund, investment trusts and segregated mandates. Figures are shown relative to respective Investment Association sectors.  Source: FE Analytics, data to 30 June 2019. Net income reinvested. Data shown net of all fund charges. Premier Diversified Growth Fund: class D income share class. Premier UK Money Market Fund: class B income units. Other funds: Class C income or accumulation shares.

 

Mike O'Shea, Chief Executive Officer, commented:

 

"The period has seen a continuation of challenging conditions for the investment industry, including record low industry retail net flows, and this has resulted in net outflows for Premier of £55 million during the quarter.  Consequently our AUM has decreased slightly by £53 million to £6.7 billion.

 

Notwithstanding the challenging industry headwinds, we continue to believe that our focus on relevant products, good investment outcomes after charges and a strong distribution capability means our business remains well positioned for the future when sentiment improves."

 

AUM reconciliation

  (£m)

Nine months ended

30 June 2019

Nine months ended

30 June 2018

 

Opening AUM

6,865.5

6,087.8

 

Sales

1,282.4

1,719.9

 

Redemptions

(1,269.8)

(1,106.5)

 

Net flows

12.6

613.4

 

Closures

(72.9)

-

 

Performance

(64.9)

71.7

 

Closing AUM

6,740.3

6,772.9

 

 

 

Dividend 

 

The Board of Premier has approved the payment of an interim dividend of 1.70 pence per share for the three-month period ended 30 June 2019. The ex-dividend date will be 1 August 2019 and the associated record date will be 2 August 2019.  The payment date will be 6 September 2019.

 

Enquiries:

 

Premier Asset Management Group PLC

Tel: 01483 306090

Mike O'Shea

 

Numis Securities Limited

(NOMAD and Broker)

Tel: 020 7260 1000

Kevin Cruickshank

Charles Farquhar

 

Liberum Capital Limited

(Joint Broker)

Tel: 020 3100 2000

Richard Crawley

Jamie Richards

 

Smithfield Consultants

(Financial PR)

Tel: 020 3047 2544

John Kiely

Andrew Wilde

 

Note to editors 

About Premier

Premier is a UK retail asset management group with a focus on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity and absolute return funds.  Premier had £6.7 billion of assets under management as at 30 June 2019.

 

LEI Number: 213800LK2M4CLJ4H2V85

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Trading Statement - RNS