Business
Q3 AuM Update
Q3 AuM Update.
About this update from Premier Miton Group Plc
[{"type":"text","content":"\n\nPremier Miton Group plc\n('Premier Miton', 'Group' or the 'Company')\nQ3 AuM update\n \nPremier Miton Group plc (AIM: PMI) today provides an update on its unaudited statement of Assets under Management ('AuM') for the third quarter of its current financial year (the 'Quarter' or 'Period').\n \n· £10.5 billion closing AuM at 30 June 2023 (31 March 2023: £11.0 billion)\n· £449 million of net outflows for the Quarter\n· Continued strong relative investment performance, with 81%2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure\n \nMike O'Shea, Chief Executive Officer, commented:\n \n\"The Group's AuM ended the Quarter at £10.5 billion. We saw outflows from across our fund range as investors retrenched against a backdrop of higher inflation, higher interest rates and ongoing market uncertainty. These outflows were principally driven by asset allocation decisions in the wider market, with investors choosing to reduce exposure to equities. Fixed income was a positive area, we saw inflows of £175 million, although these were to some extent offset by outflows of £70 million from our money market fund. Year to date we have seen over £500 million of net inflow into fixed income.\n\"We continue to focus heavily on building our profile with advisers and wealth managers through our marketing and distribution activity. We believe we have a suite of investment products that will be attractive to investors and their advisers once they return to having a more positive investment outlook.\"\nAssets under Management:\n\n\n\n\n\n\n\nOpening\nAuM\n1 Oct 2022\n£m\n\n\n \nQuarter 1 & 2\nnet flows\n£m\n\n\n \nQuarter 3\n net flows\n£m\n\n\n \nYear to date\n net flows\n£m\n\n\nQuarter 1 & 2 Market / investment performance\n£m\n\n\nQuarter 3 Market / investment performance\n£m\n\n\nYear to date Market / investment performance\n£m\n\n\nClosing\nAuM\n30 Jun 20231,3\n£m\n\n\n\n\n \nEquity funds\n\n\n5,631\n\n\n(360)\n\n\n(458)\n\n\n(818)\n\n\n366\n\n\n4\n\n\n370\n\n\n5,183\n\n\n\n\nMulti-asset funds\n\n\n3,263\n\n\n(69)\n\n\n(62)\n\n\n(131)\n\n\n80\n\n\n(32)\n\n\n48\n\n\n3,180\n\n\n\n\nFixed income funds\n\n\n750\n\n\n380\n\n\n(13)\n\n\n367\n\n\n(2)\n\n\n(3)\n\n\n(5)\n\n\n1,112\n\n\n\n\nInvestment trusts\n...