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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Premier Asset Management Group Plc | LSE:PAM | London | Ordinary Share | GB00BZB2KR63 | ORD 0.02P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 183.50 | 180.00 | 187.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPAM
RNS Number : 9459O
Premier Asset Management Group PLC
23 May 2018
23 May 2018
Premier Asset Management Group PLC
("Premier" or the "Company")
Unaudited Interim Results for the six months ended 31 March 2018
Highlights
Assets under management
-- Total assets under management (AUM) were GBP6.4 billion as at 31 March 2018 (31 March 2017: GBP5.5 billion)
-- Assets under management as at close of business on 18 May 2018 were GBP6.8 billion
Inflows
-- Total net inflows of GBP175m in the three months to 31 March 2018 (3 months to 31 March 2017: GBP170m)
-- Twentieth successive quarter of positive net inflows
-- Total net inflows of GBP411m in the six months to 31 March 2018 (6 months to 31 March 2017: GBP311m)
-- Total net inflows of GBP847m for the rolling twelve months to 31 March 2018 (rolling twelve months to 31 March 2017: GBP667m)
Investment performance
-- Continued strong investment performance net of all fund charges(1) :
o Over three years to 31 March 2018: 91% of AUM were above median
o Over five years to 31 March 2018: 97% of AUM were above median
Financials
-- Adjusted EBITDA(2) up 44% to GBP9.15m (H1 FY17: GBP6.36m) -- Profit before tax up 90% to GBP7.91m (H1 FY17: GBP4.16m) -- Earnings per share up 95% to 5.91p (H1 FY17: 3.03p) -- Quarterly dividend per share of 1.65p vs 1.25p for the same period last year
(1) Performance figures represent 85% of Premier's total AUM as at 31 March 2018 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 March 2018. 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.
(2) Earnings before interest, taxation, depreciation, amortisation of intangibles, exceptional items and share based payments.
Mike O'Shea, Chief Executive, commented:
"Premier has continued to make solid progress with positive net inflows and good long term investment performance after all fund charges, despite declines in stock markets over the last three months of the period. The quality of our performance and investment teams has been recognised by more awards over the period, including Best Multi-Asset Group of the Year at the Professional Adviser Awards 2018".
"Our focus continues to be on our existing investment products, including our twelve multi-asset funds, our equity funds and absolute return funds, but we have also continued to develop our product range and announced changes to our client service model for advisers during the period.
"Looking ahead, it seems likely that although interest rates will head higher as the global economy improves, they will remain lower overall than in previous economic cycles. With equity markets now looking through the current economic upturn to what lies beyond, it is likely that market volatility will be higher than in recent years and political uncertainty will continue to have an impact. In this environment, we believe there will be good opportunities for actively managed funds to produce attractive long term investment outcomes for investors. We are confident that our investment teams are well placed to navigate these challenges for our clients."
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Chief Executive's statement
Premier has continued to make good progress over the period with strong net inflows and good investment performance after all fund charges.
Net flows
Despite challenging market conditions and continued economic and political uncertainty, a combination of relevant investment products, good investment results from our investment team and our strong distribution capability resulted in strong net flows over the six month period to 31 March 2018 of GBP411m. This compares with GBP311m in the six months to 31 March 2017. Inflows continue to be particularly strong across our multi-asset range but our equity funds were also positive contributors. The quarter to 31 March 2018 was the twentieth successive quarter of positive net inflows into our funds.
These inflows, plus market movements, resulted in our assets under management increasing to GBP6.4 billion. AUM growth was 4% over the six months ended 31 March 2018 (six months to 31 March 2017: 11%) and 15% from the AUM level twelve months ago, as at 31 March 2017.
Hot Features
Premium
Quarter Quarter
Quarter ended 30 ended 31 Quarter
ended 30 September December ended 31
June 2017 2017 2017 March 2018
GBPm GBPm GBPm GBPm
============= =========== =========== ========== ============
Opening AUM 5,530 5,842 6,088 6,446
============== =========== =========== ========== ============
Sales 579 531 570 564
Redemptions (348) (326) (334) (389)
============= =========== =========== ========== ============
Net flows 231 205 236 175
Closures - - - -
Performance 81 41 122 (256)
Closing AUM 5,842 6,088 6,446 6,365
============== =========== =========== ========== ============
Assets under management as at close of business on 18 May 2018 were GBP6.8 billion.
Financial results
Adjusted EBITDA during the six months to 31 March 2018 totalled GBP9.2m, an increase of 44% on the GBP6.4m for the six months to 31 March 2017. The key driver behind the increase in EBITDA was the impact of higher AUM levels on management fees.
Unaudited Unaudited Audited
Six months Six months Year to
to 31 March to 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
============================ ============= ============= ==============
Profit before tax 7,906 4,155 11,493
Add back:
Interest payable - 37 44
Amortisation of intangible
assets 836 1,688 2,536
Share based payments 285 - 322
Exceptional items - 371 415
============================ ============= ============= ==============
Adjusted profit before tax 9,027 6,251 14,810
Add back:
Depreciation 126 110 225
Adjusted EBITDA 9,153 6,361 15,035
============================= ============= ============= ==============
Investment performance
Our investment performance continues to be strong. Based on 85% of AUM, (which means our total AUM excluding absolute return funds, investment trusts and segregated mandates), 91% of our AUM has achieved above sector median performance, net of all fund charges, over three years and the figure is 97% over five years.
Our two absolute return funds, which are not measured against a peer group, each have a 100% record of producing positive returns over rolling three-year periods. For our equity based funds, we measure performance against a relevant equity index. I am pleased to report that over the last five years to 31 March 2018, every single one of our eight equity focussed funds has outperformed its comparator index after all fund charges, with average annualised outperformance of 2.6% p.a.
Many of our multi-asset and equity funds have income as a primary objective. Over time, these funds have been able to grow their dividend distributions and continue to offer attractive yields against their comparative benchmarks and cash interest rates.
The quality of our performance and investment teams has been recognised by more awards over the period, including at the Professional Adviser Awards 2018 and Investment Week Awards 2017 where Premier was named Best Multi-Asset Fund Group of the Year. Premier Multi-Asset Distribution Fund, Premier Multi-Asset Global Growth Fund, Premier Multi-Asset Conservative Growth Fund, Premier Defensive Growth Fund and Acorn Income Fund were also recognised with awards during the period.
Business development
Our focus continues to be on our existing investment products, including our multi-asset, equity and absolute return funds.
Premier has a strong presence in the UK retail market for multi-asset funds, and offers a range of twelve funds, including ten multi-manager funds. These funds are designed to help investors meet different long term investment objectives, including income, growth, absolute returns, conservative growth and risk-managed objectives. Our range of UK equity, global equity and absolute returns have also attracted support over the period and we continue to seek development opportunities for our different investment strategies.
We have also continued to develop our product range and announced changes to our client service model for advisers during the period.
In October 2017, we relaunched the Premier Optimum Income Fund with a new target yield of 7% p.a. and a new co-fund management team following the expansion of our equity team with specialist covered call options capabilities.
In March 2018, we announced the launch of PremierConnect, a new digital portal designed to assist financial advisers investing directly in Premier's funds on behalf of their clients. The new portal, which is planned to go live later in 2018, will give advisers access to a range of features, including on-line transactions, client specific portfolio reporting, facilitating the payment of adviser charges and client illustrations, as well as real-time integration with a range of advisers' own back office solutions for greater adviser business efficiency. There will be no additional costs for advisers or their clients to use PremierConnect.
Regulation
In addition to our ongoing focus on existing regulations, over the period we made final preparations for the implementation of MiFID II regulations on 3 January 2018 and we are also preparing for the implementation date of the General Data Protection Regulation (GDPR) on 25 May 2018. Following the FCA's publication of their final report into the asset management sector, we are waiting for further output, including policy statements and consultation papers, on a number of areas including governance, share class switching, benchmarks, performance reporting and changes to objectives and all-in fee reporting.
Key risks
The key risks that the Group's business activities give rise to, and those which the Group will be exposed to in the second half of 2018, are consistent with those described in the 2017 annual report. The risks are credit risk, liquidity risk, market price risk and operational risk. These risks, if not managed properly, increase the possibility that the Group will not be able to meet its objectives. Each of these risks and the approach to mitigate the risks are described in detail within the 2017 annual report.
Dividend
The Company expects to pay three smaller, interim quarterly dividends, representing approximately half of the estimated total dividend for the full financial year, followed by a larger, final interim dividend.
The Company paid a dividend of 8p for the last financial year ended 30 September 2017. The Company paid its first interim dividend in respect of the current financial year of 1.65p on 2 March 2018. The Board of Premier has approved the payment of an interim dividend for the 3 month period ended 31 March 2018 of 1.65 pence per share, which will be paid on 1 June 2018 to shareholders who are on the register as at the close of business on 4 May 2018.
Outlook
Looking ahead, it seems likely that although interest rates will head higher as the global economy improves, they will remain much lower overall than in previous economic cycles. With equity markets now looking through the current economic upturn to what lies beyond it is likely that market volatility will be higher than in recent years and political uncertainty will continue to have an impact. In this environment, we believe there will be good opportunities for actively managed funds to produce attractive long term investment outcomes for investors. We are confident that our investment teams are well placed to navigate these challenges for our clients.
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 returns, a strong distribution capability and scalable operating platform, positions us well to deliver for both our fund investors and our shareholders.
Mike O'Shea
Chief Executive Officer
Interim unaudited condensed consolidated statement of comprehensive income
For the six months ended 31 March 2018
Audited
Unaudited Unaudited Year to
Six months to Six months to 30 September
31 March 2018 31 March 2017 2017
Note GBP000 GBP000 GBP000
=============================================== ===== =============== =============== ==============
Revenue 3 26,293 21,795 46,046
Administrative costs (17,551) (15,544) (31,558)
Amortisation of intangible assets (836) (1,688) (2,536)
Exceptional items 4 - (371) (415)
=============================================== ===== =============== =============== ==============
Total operating costs (18,387) (17,603) (34,509)
=============================================== ===== =============== =============== ==============
Operating profit 7,906 4,192 11,537
Finance costs - (37) (44)
=============================================== ===== =============== =============== ==============
Profit on ordinary activities before taxation 7,906 4,155 11,493
Tax expense 5 (1,743) (1,050) (2,617)
=============================================== ===== =============== =============== ==============
Profit on ordinary activities after taxation 6,163 3,105 8,876
Other comprehensive income - - -
=============================================== ===== =============== =============== ==============
Total comprehensive income 6,163 3,105 8,876
=============================================== ===== =============== =============== ==============
Basic earnings per share 6 5.91p 3.03p 8.53p
=============================================== ===== =============== =============== ==============
Diluted basic earnings per share 6 5.85p 3.03p 8.53p
=============================================== ===== =============== =============== ==============
All the amounts relate to continuing operations.
Interim unaudited condensed consolidated statement of financial position
As at 31 March 2018
Unaudited Unaudited
31 March 31 March Audited
2018 2017 30 September 2017
Note GBP000 GBP000 GBP000
======================================================== ===== ========== ========== ===================
Assets
Non-current assets
Intangible assets 14,329 16,013 15,165
Goodwill 15,597 15,597 15,597
Property, plant and equipment 881 862 911
Deferred tax asset 828 1,580 1,097
======================================================== ===== ========== ========== ===================
Total non-current assets 31,635 34,052 32,770
Current assets
Financial assets at fair value through profit and loss 873 1,170 1,354
Trade and other receivables 82,142 60,249 47,932
Cash and cash equivalents 7 18,161 11,007 16,449
======================================================== ===== ========== ========== ===================
Total current assets 101,176 72,426 65,735
Total assets 132,811 106,478 98,505
======================================================== ===== ========== ========== ===================
Equity
Capital and reserves attributable to equity holders
Share capital 8 50 21 21
Share premium - 44,747 -
Treasury shares (749) - -
Capital redemption reserve 4,532 4,532 4,532
Retained earnings 41,029 (7,495) 40,728
======================================================== ===== ========== ========== ===================
Total equity 44,862 41,805 45,281
======================================================== ===== ========== ========== ===================
Liabilities
Current liabilities
Trade and other payables 84,330 62,289 51,079
Current tax liabilities 3,619 2,384 2,145 Total current liabilities 87,949 64,673 53,224 Total liabilities 87,949 64,673 53,224 ======================================================== ===== ========== ========== =================== Total equity and liabilities 132,811 106,478 98,505 ======================================================== ===== ========== ========== ===================
Interim unaudited condensed consolidated statement of changes in equity
For the six months ended 31 March 2018
Capital
Share Share Treasury redemption Retained Total
capital premium shares reserve earnings equity
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
======================== ========= === ========= === ========= === ============ === ========== === ========
At 1 October 2017 21 - - 4,532 40,728 45,281
Deferred share issued 29 - - - (29) -
Equity dividends paid - - - - (6,118) (6,118)
Purchase of treasury
shares - - (749) - - (749)
Share based payment
expense - - - - 285 285
Profit for the
financial
period - - - - 6,163 6,163
======================== ========= === ========= === ========= === ============ === ========== === ========
At 31 March 2018 50 - (749) 4,532 41,029 44,862
(Unaudited half year)
======================== ========= === ========= === ========= === ============ === ========== === ========
At 1 October 2016 14 34 - 4,532 (9,278) (4,698)
Shares issued 7 44,713 - - - 44,720
Equity dividends paid - - - - (1,322) (1,322)
Profit for the
financial
period - - - 3,105 3,105
======================== ========= === ========= === ========= === ============ === ========== === ========
At 31 March 2017 21 44,747 - 4,532 (7,495) 41,805
(Unaudited half year)
======================== ========= === ========= === ========= === ============ === ========== === ========
At 1 October 2016 14 34 - 4,532 (9,278) (4,698)
Shares issued 7 44,713 - - - 44,720
Cancellation of share
premium - (44,747) - - 44,747 -
Equity dividends paid - - - - (3,939) (3,939)
Share based payment
expense - - - - 322 322
Profit for the
financial
year - - - - 8,876 8,876
======================== ========= === ========= === ========= === ============ === ========== === ========
At 30 September 2017 21 - - 4,532 40,728 45,281
(Audited)
======================== ========= === ========= === ========= === ============ === ========== === ========
Interim unaudited condensed consolidated statement of cash flow
For the six months ended 31 March 2018
Audited
Unaudited Unaudited Year to
Six months to 31 March Six months to 31 March 30 September
2018 2017 2017
Note GBP000 GBP000 GBP000
===================================== ===== ======================== ======================== ==============
Cash flows from operating activities
Profit for the period 6,163 3,105 8,876
Adjustments for:
Financial expense - 37 44
Taxation 5 1,743 1,050 2,617
Depreciation 126 110 225
Share based payments 285 - 322
Gain on sale of financial assets at
fair value through profit and loss - (32) (16)
(Loss)/gain on revaluation of
current asset investments 2 (16) (51)
Amortisation 836 1,688 2,536
Changes in working capital:
Increase in trade and other
receivables (34,210) (23,625) (11,308)
Increase in trade and other payables 33,251 22,151 10,934
===================================== ===== ======================== ======================== ==============
Cash generated from operations 8,196 4,468 14,179
Tax paid - (41) (1,364)
===================================== ===== ======================== ======================== ==============
Net cash from operating activities 8,196 4,427 12,815
Cash flows from investing activities
Acquisition of assets at fair value
through profit and loss (131) (651) (856)
Proceeds from disposal of assets at
fair value through profit and loss 610 590 630
Acquisitions of property, plant and
equipment (96) (39) (203)
Net cash from investing activities 383 (100) (429)
Cash flows from financing activities
Repayment of borrowings - (42,670) (42,670)
Interest paid on borrowings - (4,686) (4,686)
Dividends paid to shareholders (6,118) (1,322) (3,939)
Purchase of treasury shares (749) - -
===================================== ===== ======================== ======================== ==============
Proceeds from the issue of share
capital - 44,720 44,720
===================================== ===== ======================== ======================== ==============
Net cash from financing activities (6,867) (3,958) (6,575)
Net increase in cash and cash
equivalents 1,712 369 5,811
===================================== ===== ======================== ======================== ==============
Cash and cash equivalents at the
beginning of the period 16,449 10,638 10,638
===================================== ===== ======================== ======================== ==============
Cash and cash equivalents at the end
of the period 18,161 11,007 16,449
===================================== ===== ======================== ======================== ==============
Notes to the condensed consolidated interim financial statements
At 31 March 2018
1. Basis of accounting a) General information
Premier Asset Management Group PLC ("the Group") is the parent company of a group of companies which provide a range of investment management services in the United Kingdom and Channel Islands.
The Group's 2017 Annual Report is prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, and is available on the Premier Asset Management Group PLC website (www.premierfunds.co.uk).
b) Basis of Accounting
These condensed and consolidated interim financial statements do not constitute statutory accounts within the meaning of section 435 of the Companies Act 2006. Unless otherwise stated, they have been prepared on the basis of the accounting policies as set out in the Group's Annual Report for the year ended 30 September 2017.
The interim report has been prepared in accordance with IAS 34 'Interim Financial Reporting' and the Listing Rules of the Financial Conduct Authority.
The Group has sufficient financial resources and contracts with a number of customers and suppliers such that the Directors believe that the Group is well placed to manage its business risks successfully despite the continued uncertain economic outlook.
After making enquiries, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the interim report.
These unaudited financial statements were approved and authorised for issue by the Board of Directors on 22 May 2018.
The comparative figures for the financial year ended 30 September 2017 are not the Company's statutory accounts for the financial year.
The full year accounts to 30 September 2017 were approved by the Board of Directors on 29 November 2017 and have been delivered to the Registrar of Companies. The report of the Auditors on those accounts was unqualified, did not contain an emphasis of matter paragraph and did not contain any statement under Section 498 of the Companies Act 2006. The figures for the six months ended 31 March 2018 and the six months ended 31 March 2017 have not been audited.
The consolidated financial statements are presented in Sterling and all values are rounded to the nearest thousand pounds (GBP000) except when otherwise indicated.
c) Forward looking statements
These condensed consolidated interim financial statements which are made by the Directors in good faith based on information available to them at the time of their approval of the accounts. Forward looking statements should be treated with caution due to the inherent uncertainties, including economic, regulatory and business risk factors underlying any such statement. We undertake no obligation to update any forward looking statement whether as a result of new information, future events or otherwise. The condensed consolidated interim financial statements have been prepared to provide information to the Group's shareholders and should not be relied upon by any other party or for any other purpose.
2. Accounting policies 2.1 Basis of preparation
The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets and financial liabilities measured at fair value through profit or loss. Costs are expensed as incurred.
3. Revenue
Revenue recognised in the statement of comprehensive income is analysed as follows:
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
================= =============== =============== ==============
Management fees 25,666 21,731 45,894
Commissions 40 34 83
Other income 587 30 69
=================== =============== =============== ==============
Total revenue 26,293 21,795 46,046
=================== =============== =============== ==============
All revenue is derived from the United Kingdom and Channel Islands.
4. Exceptional items
Exceptional items are significant items of income and expense that have been presented separately by virtue of their nature to enable a better understanding of the Group's financial performance.
Recognised in arriving at operating profit from continuing operations:
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
========================= ================ =============== ==============
Staff redundancy costs - 40 40
Listing on AIM - 331 331
Capital reduction - - 44
=========================== ================= =============== ==============
Total exceptional items - 371 415
=========================== ================= =============== ==============
Staff redundancy costs are in relation to the rationalisation and restructuring of various departments and functions. Listing on AIM represents costs associated with the admission to trading on the Alternative Investment Market.
5. Income taxes
Tax charged in the statement of comprehensive income:
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
====================================================== =============== =============== ==============
Current income tax:
UK corporation tax 1,474 1,050 2,106
======================================================== =============== =============== ==============
Current income tax charge 1,474 1,050 2,106
======================================================== =============== =============== ==============
Adjustments in respect of prior periods - - 29
======================================================== =============== =============== ==============
Total current income tax 1,474 1,050 2,135
======================================================== =============== =============== ==============
Deferred tax:
Origination and reversal of temporary differences 269 - 482
Total deferred tax 269 - 482
======================================================== =============== =============== ==============
Tax expense in the statement of comprehensive income 1,743 1,050 2,617
======================================================== =============== =============== ==============
6. Earnings per share
Reported earnings per share has been calculated as follows:
The calculation of basic earnings per share is based on profit after taxation for the period and the weighted average number of ordinary shares in issue for each period.
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
===================================================== =============== =============== ==============
Basic:
Profit attributable to equity holders of the Group 6,163 3,105 8,876
Weighted average number of ordinary shares in issue 104,212,837 102,359,460 104,085,100
======================================================= =============== =============== ==============
Basic earnings per share 5.91p 3.03p 8.53p
======================================================= =============== =============== ==============
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
===================================================== =============== =============== ==============
Diluted:
Profit attributable to equity holders of the Group 6,163 3,105 8,876
Weighted average number of ordinary shares in issue 105,429,504 102,359,460 104,085,100
======================================================= =============== =============== ==============
Diluted earnings per share 5.85p 3.03p 8.53p
======================================================= =============== =============== ==============
7. Cash and cash equivalents
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
GBP000 GBP000 GBP000
================================= =============== =============== ==============
Cash at bank and in hand 18,161 11,007 16,449
=================================== =============== =============== ==============
Total cash and cash equivalents 18,161 11,007 16,449
=================================== =============== =============== ==============
8. Share capital
Unaudited Unaudited Audited
Six months to Six months to Year to
31 March 31 March 30 September
2018 2017 2017
Authorised
Ordinary shares 105,801,310 105,801,310 105,801,310
Deferred share 1 - -
=================================== =============== =============== ==============
Allotted, issued and fully paid
Ordinary shares 105,801,310 105,801,310 105,801,310
Deferred share 1 - -
=================================== =============== =============== ==============
On 8 February 2018, following the approval of a special resolution, one redeemable deferred share with a nominal value of GBP28,839.74 was issued and allotted to Eastgate Court Nominees Limited.
9. Segment reporting
The Group operates a single business segment of asset management for reporting and control purposes.
IFRS 8 Operating Segments requires disclosures to reflect the information which Group management uses for evaluating performance and the allocation of resources. The Group is managed as a single asset management business and as such, there are no additional operating segments to disclose.
Under IFRS 8, the Group is also required to make disclosures by geographical segments. As Group operations are solely in the UK and Channel Islands, there are no additional geographical segments to disclose.
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
Liberum Capital Limited Tel: 020 3100 2000
(Joint Broker) Richard Crawley
Jamie Richards
Smithfield Consultants Tel: 020 3047 2544
(Financial PR) 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 GBP6.4 billion of assets under management as at 31 March 2018.
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.
END
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