Premier Asset Management Group PLC 3rd Quarter Trading Update (6527K)
11 July 2017 - 4:00PM
UK Regulatory
TIDMPAM
RNS Number : 6527K
Premier Asset Management Group PLC
11 July 2017
11 July 2017
Premier Asset Management Group PLC ("Premier" or the
"Company")
Q3 Trading Update
Premier Asset Management Group PLC (AIM: PAM) today announces a
trading update for the Company's quarter ended 30 June 2017.
Highlights
-- Total assets under management (AUM) increased to GBP5.84 billion as at 30 June 2017
-- Total net inflows of GBP231m in the three months to 30 June 2017
-- Total net inflows of GBP636m for the rolling twelve months to 30 June 2017
-- Continued strong investment performance net of all fund charges*:
o Over three years to 30 June 2017
96% of AUM were above median
60% of AUM were first quartile
o Over five years to 30 June 2017
97% of AUM were above median
84% of AUM were first quartile
*Performance figures represent 82% of Premier's total AUM as at
30 June 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 30 June 2017, C share class or
equivalent, income reinvested. Data shown net of all fund
charges.
Mike O'Shea, Chief Executive Officer, commented:
"We are pleased to report another strong quarter for the
business with continued good investment performance and net inflows
of GBP231 million. This was our seventeenth successive quarter of
positive net inflows.
"These results have been achieved in an environment of continued
market uncertainty driven by various factors, including the
unwinding of quantitative easing and the lack of clarity arising
from the UK referendum result last year.
"At the end of quarter, the FCA published their final report on
their Asset Management Market Study. We note their recommendations
and are now waiting for the outcome of the next stage of
consultations.
"We believe that against a background of market uncertainty, low
interest rates and the ongoing need for people to invest for
growth, income or capital preservation, the value of good, active
management is critical. We continue to believe that our strategy of
offering relevant investment products, which are designed to meet
the different long--term needs of UK investors, backed by good
investment outcomes after charges, a strong distribution capability
and scalable operating platform, positions us well to deliver for
both our clients and our shareholders."
AUM reconciliation
(GBPm) 3 months to 31 3 months to 31 3 months to 30
December 2016 March 2017 June 2017
--------------------------- --------------- -------------- --------------
Opening assets
under management 4,998.5 5,206.4 5,529.9
--------------------------- --------------- -------------- --------------
Sales 519.0 522.0 578.5
--------------------------- --------------- -------------- --------------
Redemptions (378.8) (351.7) (347.7)
--------------------------- --------------- -------------- --------------
Net flows 140.2 170.3 230.8
--------------------------- --------------- -------------- --------------
Market movements
& investment performance 67.7 153.2 81.1
--------------------------- --------------- -------------- --------------
Closing assets
under management 5,206.4 5,529.9 5,841.8
--------------------------- --------------- -------------- --------------
Dividend policy
The Company has adopted a quarterly dividend policy, expecting
to pay three smaller, interim dividends, representing approximately
half of the estimated total dividend for the full financial year,
followed by a larger, final dividend. The Company's first two
interim dividends of 1.25p per share were paid on 3 March 2017 and
2 June 2017.
The Company's third quarterly dividend, for the three months
ended 30 June 2017, is expected to be announced on 27 July 2017
with an ex-date of 3 August 2017 and a payment date of 1 September
2017. The exact dividend amount and associated timetable is
expected to be confirmed on 27 July 2017.
Enquiries:
Premier Asset Management Tel: 01483 306090
Group PLC Mike O'Shea
Stifel Nicolaus Europe Ltd Tel: 020 7710 7600
trading as KBW Gareth Hunt
(Nomad and Joint Broker) Stewart Wallace
Numis Securities Limited Tel: 020 7260 1000
(Joint broker) Andrew Holloway
Charles Farquhar
Smithfield Consultants Tel: 0203 047 2533
(Financial PR) John Kiely
Andrew Wilde
Note to editors
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 GBP5.84 billion of assets under
management as at 30 June 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
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