Trading Statement

RNS Number : 4190B

Premier Asset Management Group PLC

10 January 2018

 

10 January 2018

Premier Asset Management Group PLC

("Premier" or the "Company")

Q1 2018 Trading Update and Interim Dividend

 Premier Asset Management Group PLC (AIM: PAM) today announces its trading update for the three months to 31 December 2017.

 Highlights

·     Total assets under management (AUM) increased 23% to £6.4 billion as at 31 December 2017 (31 December 2016: £5.2 billion)

·     Total net inflows for the quarter of £236 million (3 months to 31 December 2016: £140 million)

·     Nineteenth successive quarter of positive net inflows

·     Total net inflows of £843 million for the rolling twelve months to 31 December 2017 (rolling twelve months to 31 December 2016: £684 million)

·     Over the three, five and seven-year periods to 31 December 2017, 96% of Premier's fund AUM was above median, with 76%, 92% and 92% of Premier's retail fund AUM achieving first quartile performance in their respective IA sectors over the same time periods*

* Performance figures represent 84% of Premier's total AUM as at 31 December 2017 and exclude absolute return funds, investment trusts and segregated mandates. Median and quartile ranking figures are shown relative to respective Investment Association sectors. Source: FE Analytics, data to 31 December 2017.  Net income reinvested. Data shown net of all fund charges. C share class, or, where a C share class was not available for the full time period, the pre RDR bundled or equivalent retail share class has been used for the period the C share class was not available.

Mike O'Shea, Chief Executive Officer, commented:

"We are pleased to report the continued growth and progress of our business, with net inflows of £236 million over the quarter to 31 December 2017, representing our nineteenth successive quarter of positive inflows. These inflows, plus market movements, resulted in our AUM increasing to £6.4 billion. This is £1.2 billion higher than the level 12 months ago.  I am also particularly pleased to report that 2017 was a strong year for investment performance across our fund range.

Despite the uncertain investment and political conditions, we believe our focus on active management, good long term investment results after fees and relevant investment products means we are well positioned for the future"

 Quarterly AUM reconciliation

	Q2 2017	Q3 2017	Q4 2017	Q1 2018
	Ending 31 Mar 17	Ending 30 Jun 17	Ending 30 Sep 17	Ending 31 Dec 17
	£m	£m	£m	£m
Opening AUM	5,206.4	5,529.9	5,841.8	6,087.8
- Sales	522.0	578.5	530.8	570.7
- Redemptions	(351.7)	(347.7)	(325.6)	(334.3)
- Net sales	170.3	230.8	205.2	236.4
- Closures	-	-	-	-
- Performance	153.2	81.1	40.8	122.0
Closing AUM	5,529.9	5,841.8	6,087.8	6,446.2

Dividend

The Board of Premier has approved the payment of an interim dividend of 1.65 pence per share for the three-month period ended 31 December 2017. The ex-dividend date will be 1 February 2018 and the associated record date will be 2 February.  The payment date will be 2 March 2018.

Enquiries:

Premier Asset Management Group PLC	Tel: [phone] Mike O'Shea
Numis Securities Limited (NOMAD and Broker)	Tel: [phone] Kevin Cruickshank Charles Farquhar
Liberum Capital Limited (Joint Broker)	Tel: [phone] Richard Crawley Jamie Richards
Smithfield Consultants (Financial PR)	Tel: [phone] John Kiely Andrew Wilde

About Premier

Premier is a fast-growing 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 £6.4 billion of assets under management as at 31 December 2017.

 

END

 

 

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