Premier Miton Share Discussion Threads

[bmcollins] 18/7/2023 12:47

They have certainly taken a heavy hit today, is there some news out that I have missed ?

[masurenguy] 14/7/2023 07:38

Q3 AuM update

Premier 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."

[spectoacc] 10/7/2023 16:36

A strange statement. Forward p/e's? Current p/e's? Or in relation to mega caps, or the US?

I'd suggest valuations are low because we're just coming out of 14 years of ZIRP, and due a nasty recession (or mild recession, who knows).

[masurenguy] 10/7/2023 16:13

"UK valuations are now well below international norms and small company valuations are even cheaper. The AIM All-Share index has only been lower in the wake of the collapse of the technology bubble in 2000, the depths of the 2008 financial crisis and during the brief Covid-panic of March 2020." James Carthew, Citywire, 10 July.

[bmcollins] 16/6/2023 01:57

Whicheverway I look at this company it looks cheap, yield is high despite this latest divi being trimmed back a little from last years comparative.
With the stock at this level it is surely coming into a competitors cross hairs for a takeover.
Cost cutting is rife in fund management and this team have good performance and Gervais Williams coming up for retirement (presumably), they surely are a target ?

[masurenguy] 31/5/2023 07:39

Half Year Results for 6 months to March 31st

Highlights

-- £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."

[zangdook] 30/5/2023 09:41

Fair enough, but they need to sort it out - why is the first of these not allowed in?

Shareholder
I am looking for information about Premier Miton Group plc

Individual investor
I am an individual, acting on my own behalf or on behalf of a Charity, trust or Corporate, investing in, or seeking information about Premier Miton's range of products and services.

[lancasterbomber] 30/5/2023 09:30

Just choose private investor from list of investors types and your in

[zangdook] 30/5/2023 09:27

I finally got in to their Rule 26 info by falsely claiming to be a Financial Advisor. There is indeed a calendar - the interims are due tomorrow, 31 May.

[zangdook] 30/5/2023 09:05

I was just trying to find out if they have a calendar saying when the interims are due, but if they won't let me into their corporate website they're not really Rule 26 compliant.

[zangdook] 30/5/2023 09:03

Choose your investor type

click "shareholder"

You have selected "shareholder" - Disclaimer - read the full website terms of use

Click "accept"

The content you are trying to access is intended for professionals only

takes me back to

[its the oxman] 23/5/2023 09:29

Surely time to buy close to 90p.

[1knocker] 19/4/2023 19:48

Not very encouraging that PM held Woodbois at all !!

I took a look at that when the hype started last year, and concluded that it fell in the 'not with a bargepole' category. In the event, I suppose I could have bought and got out with a quick profit, but I don't like relyingon a bigger fool being willing to pay more than I did. Too much risk of ending up the holding the parcel when the music stops! I suspect that some overoptimistic PIs have lost a packet on that, but an institutional investor should have kicked the tyres.

[creme de menthe] 19/4/2023 16:52

(Alliance News) - Premier Miton Group PLC sold its stake in Woodbois Ltd on Wednesday, in the wake of the forestry, timber and afforestation company announcing its lender is terminating a debt facility.

Sydbank AS is terminating the USD6 million debt facility of Woodbois subsidiary Woodgroup ApS.

Shares in Woodbois were down 63% to 0.38 pence each in London on Wednesday around midday. Over the past 12 months, the stock is down 91%.

Premier Miton is a Surrey, England-based asset manager. It shares are also listed in London, and were down 0.5% to 95.07p each.

According to a regulatory filing, Premier Miton Group held just under a 10% stake in Woodbois prior to the disposal.

"The reason cited by Sydbank for terminating the facility was that Woodgroup ApS generated a loss in Q1 2023. Sydbank believe that, as a consequence, the circumstances of Woodgroup ApS have changed significantly to their detriment," Woodbois explained.

Woodbois said it was "shocked" by the decision, and will explore alternative funding sources.

"Whilst it expects a difficult trading period in the short-term, management believe that the fundamentals of the business are sound," Woodbois affirmed. It believes the company is "well placed to deliver a very positive performance for the remainder of the year."

Woodbois said that Woodgroup has "various" banking arrangements with Sydbank, including the USD6 million facility that was fully utilised and an ancillary account with a cash balance of USD3.1 million.

It added that Sydbank have a floating charge against the assets of Woodgroup and have offset this USD3.1 million in partial repayment of the facility. As part of the notice, Sydbank has also requested the Woodgroup to present a plan for the repayment of the outstanding USD2.9 million.

"Sydbank has verbally indicated that they would be open to working with the company to at least the end of May to allow the development of a plan to refinance the balance," Woodbois said.

Woodbois has cash balances of USD430,000 outside the Sydbank account and net trade receivables of USD1.5 million.

By Sophie Rose, Alliance News reporter

[t-trader] 18/4/2023 15:26

Bought in today at 95.5p

Looks a cheap entry price for this company.

Great dividend yield and significantly undervalued IMO

Wouldn’t be surprised to see this snapped up by one of the major players at some point.

[1knocker] 18/4/2023 15:05

The update seems OK to me. The share price has certainly taken quite a hit over the past few months though. I am well underwater with a buying price of 110, but its a volatile share in a volatile market, so one must be prepared to accept a bit of turbulance I guess.

[masurenguy] 14/4/2023 07:58

Q2 AuM update

Premier 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."

[petersinthemarket] 03/3/2023 12:21

#164 Another one for the filter

[cwa1] 02/3/2023 17:39

All

PLEASE, can we leave personal stuff out of it here?

Criticise the company coherently and respectfully 'till the cows come home-but let's leave the personal comments out, they're not acceptable.

Thanks all

[zangdook] 02/3/2023 15:59

He comes to the conclusion because the full year dividend has been 10p for the last two years, and moneyweek are forecasting 9p.

I would ignore moneyweek myself, and Masurenguy's posts in general.

[petersinthemarket] 28/2/2023 13:14

I dont see how you come to that conclusion.
They have lots of cash and will want to keep income investors on board.

[bullsvbears] 27/2/2023 19:44

Which rather implies a trimming of the dividend this year.....

[masurenguy] 15/2/2023 07:29

Fund manager offers income of 7%

In many respects, fund management companies like Premier Miton Group are just supercharged plays on the general performance of the stock market. If markets rise, and their funds do well, fee income grows. On the other hand, if markets fall, Premier Miton is likely to see fee income decline. The group's assets under management ended 2022 at £11.1bn, an increase of 5% year-on-year. That looks like a pretty good result, considering the state of the markets last year. Encouragingly, 82% of its funds were in the top 25% or 50% of their respective sectors, implying its managers know what they’re doing.

Overall, the company generated £17.1m of cash last year, more than enough to support its £14.7m dividend outlay. Even though it’s paying out the majority of its cash flow to investors, the firm has still managed to build a large cash reserve on the balance sheet. Its bank accounts are stuffed with £45.8m, nearly a quarter of its current market capitalisation. The forecast full-year dividend of 9p for the current year equates to a yield of 7% at the current share price.