Premier Asset Management Group PLC Trading Statement (1259T)
10 October 2017 - 5:00PM
UK Regulatory
TIDMPAM
RNS Number : 1259T
Premier Asset Management Group PLC
10 October 2017
10 October 2017
Premier Asset Management Group PLC
("Premier" or the "Company")
Trading update
Premier Asset Management Group PLC (AIM: PAM) today announces a
trading update for the Company's fourth quarter ended 30 September
2017.
Highlights
-- Total AUM increased to GBP6.1 billion as at 30 September 2017
-- Total net inflows over the year ended 30 September 2017 of GBP747m
-- Total net inflows over the quarter ended 30 September 2017 of GBP205m
-- Figures represent eighteenth successive quarter of positive net inflows
-- Over a three and five-year period to 30 September 2017, 96%
and 97% respectively of Premier's retail fund AUM were above
median, with 70% and 92% of Premier's retail fund AUM achieving
first quartile performance in their respective IA sectors over the
same time periods.*
-- The Company expects to announce its final audited results for
the year ended 30 September 2017 in early December 2017.
*Performance figures represent 83% of Premier's total AUM as at
30 September 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 September 2017, C share class or
equivalent, income reinvested. Data shown net of all fund
charges.
Mike O'Shea, Chief Executive Officer, commented:
"This has been another very successful year for Premier Asset
Management, including strong net inflows of GBP747m and assets
under management reaching a record high of GBP6.1 billion.
This strong performance has been achieved despite a considerable
amount of economic uncertainty during the year. Our success has
been built on achieving good long term investment outcomes for our
clients, after fees, across our range of relevant investment
products. We remain convinced that over the long term, active
management represents the best way of achieving our clients'
investment objectives.
The economic and business challenges relating to the UK's
departure from the EU are no clearer than they were several months
ago and this uncertainty looks set to persist for some time yet.
However, we believe that our investment talent, product range,
investment performance track record and distribution capabilities
mean that we are well positioned for the future."
Quarterly AUM reconciliation
Q1 2017 Q2 2017 Q3 2017 Q4 2017
--------------- -------- -------- -------- --------
Ending Ending Ending Ending
31-Dec 31-Mar 30-Jun 30-Sep
--------------- -------- -------- -------- --------
GBPm GBPm GBPm GBPm
--------------- -------- -------- -------- --------
Opening AUM 4,998.5 5,206.4 5,529.9 5,841.8
--------------- -------- -------- -------- --------
- Sales 519.0 522.0 578.5 530.8
--------------- -------- -------- -------- --------
- Redemptions (378.8) (351.7) (347.7) (325.6)
--------------- -------- -------- -------- --------
- Net sales 140.2 170.3 230.8 205.2
--------------- -------- -------- -------- --------
- Closures - - - -
--------------- -------- -------- -------- --------
- Performance 67.7 153.2 81.1 40.8
--------------- -------- -------- -------- --------
Closing AUM 5,206.4 5,529.9 5,841.8 6,087.8
--------------- -------- -------- -------- --------
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 interim dividend. The Company's first
three interim dividends of 1.25p per share were paid on 3 March
2017, 2 June 2017 and 1 September 2017.
The Company's final quarterly dividend amount for the three
months ended 30 September 2017 is expected to be announced on 30
November 2017 with an ex-dividend date of 7 December 2017 and a
payment date of 5 January 2018.
Enquiries:
Premier Asset Management Group Tel: 01483 306090
PLC Mike O'Shea
------------------------------- -------------------
Numis Securities Limited Tel: 020 7260 1000
(NOMAD and Broker) Kevin Cruickshank
Charles Farquhar
------------------------------- -------------------
Smithfield Consultants Tel: 0203 047 2544
(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 GBP6.1 billion of assets under
management as at 30 September 2017
This information is provided by RNS
The company news service from the London Stock Exchange
END
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