Premier Asset Management Group PLC Trading Statement (6811M)

TIDMPAM

RNS Number : 6811M

Premier Asset Management Group PLC

10 January 2019

10 January 2019

Premier Asset Management Group PLC

("Premier" or the "Company")

Q1 Trading update

Premier Asset Management Group PLC (AIM: PAM) today announces a first quarter trading update for the three months to 31 December 2018.

Highlights

-- Assets under management (AUM) were GBP6.4 billion as at 31 December 2018 (31 December 2017: GBP6.4 billion)

-- Total net inflows for the quarter of GBP65 million (3 months to 31 December 2017: GBP237 million)

   --     Twenty third successive quarter of positive net inflows 

-- Total net inflows of GBP562 million for the rolling twelve months to 31 December 2018 (rolling twelve months to 31 December 2017: GBP843 million)

   --     Continued strong relative investment performance net of all fund charges*: 

o Over three years to 31 December 2018: 77% of AUM were above median

o Over five years to 31 December 2018: 84% of AUM were above median

   --     Quarterly dividend per share declared of 1.70p vs 1.65p for the same period last year 

* Performance figures represent 82% of Premier's total AUM as at 31 December 2018 and exclude absolute return funds, investment trusts and segregated mandates. Figures are shown relative to respective Investment Association sectors. Source: FE Analytics, data to 31 December 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.

Mike O'Shea, Chief Executive Officer, commented:

"It has been a challenging quarter, with subdued net inflows against a background of economic and political uncertainty, and market volatility. Over the period the UK equity market fell 9.6% and global stock markets fell 10.5%(1) . We believe the continued uncertain environment is driving nervousness amongst investors generally. However, we are confident our strong distribution capabilities, coupled with our continued strategy of focusing on active management of relevant investment products, including our twelve multi-asset funds and range of income funds, mean we continue to be well placed for the future."

(1) Source: FE Analytics, data from 30 September 2018 to 31 December 2018. UK equities: FTSE 100 Index. Global equities: FTSE All World Index. Currency: GBP, total return.

Quarterly AUM reconciliation

 
                  Q2 2018        Q3 2018        Q4 2018       Q1 2019 
                  Ended 31-Mar   Ended 30-Jun   Ended 30-Sep  Ended 31-Dec 
                 -------------  -------------  -------------  ------------ 
                  GBPm           GBPm           GBPm          GBPm 
                 -------------  -------------  -------------  ------------ 
 Opening AUM      6,446.2        6,365.3        6,772.9       6,865.5 
                 -------------  -------------  -------------  ------------ 
 - Sales          564.0          585.2          518.7         466.3 
                 -------------  -------------  -------------  ------------ 
 - Redemptions    (389.5)        (383.2)        (398.4)       (401.5) 
                 -------------  -------------  -------------  ------------ 
 - Net sales      174.5          202.0          120.3         64.8 
                 -------------  -------------  -------------  ------------ 
 - Performance    (255.4)        205.6          (27.7)        (486.4) 
                 -------------  -------------  -------------  ------------ 
 Closing AUM      6,365.3        6,772.9        6,865.5       6,443.9 
                 -------------  -------------  -------------  ------------ 
 

Dividend

The Board of Premier has approved the payment of an interim dividend of 1.70 pence per share for the three-month period ended 31 December 2018. The ex-dividend date will be 31 January 2019 and the associated record date will be 1 February 2019. The payment date will be 8 March 2019.

Enquiries:

 
  Premier Asset Management Group    Tel: [phone] 
   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 
 

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 GBP6.4 billion of assets under management as at 31 December 2018.

LEI Number: 213800LK2M4CLJ4H2V85

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January 10, 2019 02:00 ET (07:00 GMT)