Premier Asset Management Group PLC Trading Statement (4190B)

TIDMPAM

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 GBP6.4 billion as at 31 December 2017 (31 December 2016: GBP5.2 billion)

-- Total net inflows for the quarter of GBP236 million (3 months to 31 December 2016: GBP140 million)

   --     Nineteenth successive quarter of positive net inflows 

-- Total net inflows of GBP843 million for the rolling twelve months to 31 December 2017 (rolling twelve months to 31 December 2016: GBP684 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 GBP236 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 GBP6.4 billion. This is GBP1.2 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    Ending    Ending    Ending 31 Dec 
                   31 Mar    30 Jun    30 Sep               17 
                       17        17        17 
---------------  --------  --------  --------  --------------- 
                     GBPm      GBPm      GBPm             GBPm 
---------------  --------  --------  --------  --------------- 
 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   Tel: [phone] 
  Group PLC                  Mike O'Shea 
-------------------------  ------------------- 
 Numis Securities Limited   Tel: [phone] 
  (NOMAD and Broker)         Kevin Cruickshank 
                             Charles Farquhar 
-------------------------  ------------------- 
 Liberum Capital Limited    Tel: [phone] 
  (Joint Broker)             Richard Crawley 
                             Jamie Richards 
-------------------------  ------------------- 
 Smithfield Consultants     Tel: [phone] 
  (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 December 2017.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 10, 2018 02:00 ET (07:00 GMT)