Premier Asset Management Group PLC – Trading Statement

Premier Asset Management Group PLC – Trading Statement

Premier Asset Management Group PLC (AIM: PAM) today announces a trading update for the Company’s quarter ended 30 June 2019.

 

Highlights

 

·    Assets under management (AUM) were £6.7 billion as at 30 June 2019 (30 June 2018: £6.8 billion)

·    Net outflows of £55 million in the three months to 30 June 2019 (3 months to 30 June 2018: net inflows of £202 million)

·    Net inflows of £133 million for the rolling twelve months to 30 June 2019 (rolling twelve months to 30 June 2018: £819 million)

·    Performance *

Over three years to 30 June 2019: 78% of AUM were above median

Over five years to 30 June 2019: 84% of AUM were above median

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

 

* Performance figures represent 84% of Premier’s total AUM as at 30 June 2019 and exclude absolute return funds, property securities fund, investment trusts and segregated mandates. Figures are shown relative to respective Investment Association sectors.  Source: FE Analytics, data to 30 June 2019. Net income reinvested. Data shown net of all fund charges. Premier Diversified Growth Fund: class D income share class. Premier UK Money Market Fund: class B income units. Other funds: Class C income or accumulation shares.

 

Mike O’Shea, Chief Executive Officer, commented:

 

The period has seen a continuation of challenging conditions for the investment industry, including record low industry retail net flows, and this has resulted in net outflows for Premier of £55 million during the quarter.  Consequently our AUM has decreased slightly by £53 million to £6.7 billion.

Notwithstanding the challenging industry headwinds, we continue to believe that our focus on relevant products, good investment outcomes after charges and a strong distribution capability means our business remains well positioned for the future when sentiment improves.”

AUM reconciliation

  (£m)

Nine months ended

30 June 2019

Nine months ended

30 June 2018

Opening AUM

6,865.5

6,087.8

Sales

1,282.4

1,719.9

Redemptions

(1,269.8)

(1,106.5)

Net flows

12.6

613.4

Closures

(72.9)

Performance

(64.9)

71.7

Closing AUM

6,740.3

6,772.9

 

 

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 30 June 2019. The ex-dividend date will be 1 August 2019 and the associated record date will be 2 August 2019.  The payment date will be 6 September 2019.

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