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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Premier Miton Group Plc | PMI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 1.56% | 65.00 | 14:54:06 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 64.50 | 64.00 | 65.00 | 65.00 | 64.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 23/2/2024 11:27 by riverman77 Yes I have done my research. I see that statistic rolled out every time and it's not a good measure - if you measure performance since launch or FM tenure there is a huge amount of survivorship bias - poor funds get closed down and poor fund managers replaced so these numbers always look flattering. Better to look at 3y and 5y numbers and they are poor - that is what most investors will look at and drive flows.The other problem with PMI funds is they lack any sort of differentiation - dozens of identical UK equity funds - there are literally hundreds of similar funds out there so why on earth would I want invest in one of their funds? |
Posted at 12/1/2024 07:09 by masurenguy Q1 AuM updatePremier Miton Group plc (AIM: PMI) today provides an update on its unaudited statement of Assets under Management ('AuM') for the first quarter of its current financial year (the 'Quarter' or 'Period'). -- £10.1bn closing AuM at 31 December 2023 (30 September 2023: £9.8bn) -- £0.2bn of net fund outflows for the Quarter -- £0.1bn of mandate transfer and fund disposal -- Continued strong relative investment performance with 75% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure Mike O'Shea, Chief Executive Officer, commented: "The Group's AuM ended the Quarter at £10.1bn, an increase of 3% on the opening position for the year. The closing AuM and the net outflows for the Quarter include the sale of the Premier Miton Worldwide Opportunities Fund and the previously announced transfer of the MIGO Opportunities Trust plc to Asset Value Investors, these had a combined AuM of £0.1 billion. As part of our ambition to develop the Group's presence in the offshore fund market, we are pleased to announce that during the period we agreed to take on the investment management of a Dublin based UCITS platform with approximately GBP0.1 billion of AuM. This will be the foundation of our offshore fund development plans enabling us to distribute our fund management capabilities across a broader client base. The appointment remains subject to normal regulatory clearances and is expected to complete in February 2024. Further details will be announced in due course. The assets of the Dublin UCITS platform will be managed by the Group's existing fund management teams and no new employees will be joining the Group as a result. Neither the consideration from the sale of the Worldwide Opportunities fund or for the appointment to the Dublin UCITS platform are material to the Group's cash position. I am pleased to note that the improvement in short term performance mentioned at the time of our full year results announcement has continued into the calendar year end. As a result, our investment performance remains relatively strong with 75% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure." |
Posted at 21/12/2023 12:36 by bmcollins Investor meet company are doing a presentation of PMI on Jan 12 at noon, questions can be submitted in advance.I think that it is a promising idea, conversing with shareholders in poor years. |
Posted at 06/12/2023 09:46 by masurenguy Peel Hunt: Premier Miton offers upside after dividend cutAsset manager Premier Miton (PMI) is facing a ‘hostile&rsquo Sage said the profits were 7.5% above his forecast with the bottom line boosted by variable costs falling 44% to 14.5% of revenues. Meanwhile, a "yield of nearly 10% should support the shares. Although the environment remains hostile, the business is healthily profitable and rewarding investors through dividends. The 9.7% yield and low earnings multiple – the full-year 2023 price/earnings is eight times rising to 10 for full-year 2024, which we expect to be trough earnings – allow for upside. |
Posted at 05/12/2023 14:51 by bmcollins @stemisYour bare numbers are probably correct but remeber AUM is calculated at market prices of assets, so unless you think the market is still falling why would you even be thinking of buying an asset manager ? My view is that every fall has brought us closer to the bottom & am now thinking we have seen bottom, in which case PMI gives investors gearing on the way up as well as the reverse on the way down. If you feel we are not yet at bottom shouldn't you be looking at gilts not equities ? |
Posted at 13/10/2023 10:49 by creme de menthe It is going to be a very long dawn. Maybe sentiment will shift next year, but investors would rather sit in cash at the moment, there's little gain to be in shares, but plenty of risk at the moment. |
Posted at 14/7/2023 07:38 by masurenguy Q3 AuM updatePremier Miton Group provides an update on its unaudited statement of Assets under Management ('AuM') for the third quarter of its current financial year. -- £10.5 billion closing AuM at 30 June 2023 (31 March 2023: £11.0 billion) -- £449 million of net outflows for the Quarter -- Continued strong relative investment performance, with 81% f funds in the first or second quartile of their respective sectors since launch or fund manager tenure Mike O'Shea, Chief Executive Officer, commented: "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 GBP175 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. 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." |
Posted at 31/5/2023 07:39 by masurenguy Half Year Results for 6 months to March 31stHighlights -- £11.0bn closing Assets under Management ('AuM') (2022 HY: £12.8bn) -- Net outflows of £32m in the Period (2022 HY: £401m outflows) -- Continued inflows into fixed income strategies of £399m in the Period (2022 HY: £138m inflows) -- 76% of funds above median investment performance since launch(2022 HY: 80%) -- Adjusted profit before tax (1,2) of £7.9m (2022 HY: £14.6m) -- Profit before tax of £2.4m (2022 HY: £9.9m) -- Proposed interim dividend of 3.0p per share (2022 interim: 3.7p per share) -- Successful launch of Premier Miton Emerging Markets Sustainable Fund, April 23 -- Continued focus on distribution capabilities to service our existing and new client base, and positioning for inflows when market and sentiment conditions turn positive again, by showcasing the depth and breadth of our investment talent across asset classes -- £11.0bn closing AuM at 30 April 2023 Mike O'Shea, CEO of Premier Miton Group, commented:"Although this has been a tougher period for investors, we remain convinced that the work we have done in building a diversified active manager that can offer products across equities, fixed income and multi-asset will bear fruit in the long term. At times of market stress there are substantial opportunities for genuinely active managers who have the courage of their convictions to run differentiated, long-term, and focussed portfolios by taking an agile and positive role in the capital allocation process. Our long term investment performance record is good, we have a strong distribution and marketing capability, a strong balance sheet and an operational platform that can handle many times the current level of assets we manage. As confidence returns to markets and to investors, we are well placed to return to growth." |
Posted at 14/4/2023 07:58 by masurenguy Q2 AuM updatePremier Miton Group provides an update on its unaudited statement of Assets under Management ('AuM') for the second quarter of its current financial year. -- £11.0bn closing AuM at 31 March 2023 (30 September 2022: £10.6 bn) -- £40m of net outflows for the Quarter (£32m net outflows for the financial year to date) -- Continued strong relative investment performance with 76% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure Mike O'Shea, Chief Executive Officer, commented:" The Group's AuM ended the Quarter at £11.0 billion, an increase of 4% on the opening position for the financial year. We saw early signs of returning confidence amongst fund buyers in the latter stages of 2022 but this has not followed through into 2023 and the banking shocks that unfolded towards the end of the period have again dented risk appetite. It appears from wider industry data that investors have continued to shun UK equities but have also been more wary on active European and Global equities. There has, however, been an uptick in demand for fixed income strategies where we are well placed to serve our clients. Our own experience broadly reflects this backdrop with continued inflows into our fixed income, US equity and Diversified Multi Asset funds and outflows from our European equity and UK equity funds. In total, the Group experienced net outflows for the six months to 31 March 2023 totalling £32 million. We continue to invest in our business as part of our long-term growth strategy and we will be adding to our suite of dedicated responsible and sustainable funds with the launch of the Premier Miton Emerging Markets Sustainable Fund on 21 April 2023. The fund will be managed by Fiona Manning and Will Scholes who joined the Group at the end of August 2022 from abrdn. Our primary focus is to deliver strong long-term investment performance for our investors, and it is pleasing to note that 76% (2) of funds are in the first or second quartile of their respective sectors since launch or fund manager tenure. Despite the current headwinds, we continue to have a well-diversified portfolio of actively managed funds which will be attractive to new investors as and when confidence returns." |
Posted at 11/1/2023 13:29 by robow Our tip of the year is ‘very cheap, very unloved and highly profitable’Questor share tip: this fund management company is ideally placed for a bounce back when markets recover By Richard Evans 11 January 2023 • 6:00am It’s time to name Questor’s tip of the year and as usual we have sought the views of the fund manager who put us on to the best performer of last year under our “Follow the Money” banner. What’s unusual is that this year’s stock is quoted on London’s junior Aim market and is itself a fund management company. The first thing to catch the eye about Premier Miton is its huge yield of almost 9pc. But it looks very cheaply valued on other measures too. “Its market value is about 1.5pc of the value of the funds it manages,” says Chris Boxall, co-founder of Fundamental Asset Management, an Aim specialist. “If I were selling my own business I would want a lot more than that – and I would expect to pay a lot more if I wanted to acquire a rival myself.” He has included Premier Miton in his recently launched Fundamental Aim IHT Income Portfolio. It’s not hard to list reasons why investors are shying away from Premier Miton. Fund managers make their money by charging a percentage of the amount they manage for their clients and when markets are struggling, as they have been for the past year or so, the value of the funds they manage tends to fall, no matter how good they are. Investors remain nervous about the economy, interest rates and inflation so are not inclined to back companies that require optimistic sentiment in the financial markets to maximise their profitability. One factor to affect Premier Miton in particular is that it is seen as a specialist in smaller companies, a part of the market that has been particularly badly hit and is typically most exposed in wider sell-offs. Then there is the ever-present danger from passive funds – those that abandon any attempt to beat the wider market and simply replicate a particular index. Such funds are vastly cheaper than the “actively managed” stock-picking funds run by the likes of Premier Miton. The stock is clearly not one to buy when the market is looking frothy. Now, after some big falls (outside the FTSE 100, which is skewed by exposure to commodities and the exchange rate), would be a much better time for those investors able to look beyond the current instability and to await the next bull market, whose arrival sooner or later is inevitable. Premier Miton may also be less threatened by the passive investment boom than many rivals. The funds most at risk of investors withdrawing their money (“outflowsR And it has particular scope to outperform in areas such as smaller stocks, which are less researched and understood and therefore more likely to be mispriced by the market as a whole. “The market gives the stock a lowly rating because it thinks its assets under management are under pressure, but if it can maintain that record of outperformance it should be able to hold on to its assets,” he adds. In fact the company has ambitions to increase the amount it manages from today’s £11.3bn to £20bn. While a following wind from a wider market recovery would clearly help, it does have some tools of its own that it can deploy. One is its hefty cash pile of £45m, on top of the healthy profits it makes every year, which it could deploy to make acquisitions. If it were to buy smaller, niche operators it could be able to grow the assets managed by the acquired companies quickly thanks to its own larger sales and distribution teams, Boxall adds. “It could make niche acquisitions, possibly quite cheaply in the current environment. Once bolted on to a big sales/distribution operation the assets under management could grow very quickly. And there are loads of small asset management companies around, especially in niches.” Premier Miton is “not strong” in Boxall’s own area of tax-efficient investing, he adds. The company has committed to pay 50pc-65pc of adjusted after-tax profits as a dividend and could afford to pay even more, but is probably holding back to be able to take advantage of acquisition opportunities, Boxall says. He concludes: “It looks very cheap, very unloved. But it’s highly profitable and with that huge yield you are being paid to wait for a share price recovery.” Questor says: buy Ticker: PMI |
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