PAM Premier Asset Management Group Plc

TIDMPAM

RNS Number : 8622E

Premier Asset Management Group PLC

09 July 2019

9 July 2019

Premier Asset Management Group PLC

("Premier" or the "Company")

Q3 Trading Update and Interim Dividend

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 GBP6.7 billion as at 30 June 2019 (30 June 2018: GBP6.8 billion)

-- Net outflows of GBP55 million in the three months to 30 June 2019 (3 months to 30 June 2018: net inflows of GBP202 million)

-- Net inflows of GBP133 million for the rolling twelve months to 30 June 2019 (rolling twelve months to 30 June 2018: GBP819 million)

   --    Performance * 

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

o 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 GBP55 million during the quarter. Consequently our AUM has decreased slightly by GBP53 million to GBP6.7 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

 
  (GBPm)        Nine months ended  Nine months ended 
                 30 June 2019       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.

Enquiries:

 
  Premier Asset Management Group    Tel: 01483 306090 
   PLC                               Mike O'Shea 
  Numis Securities Limited          Tel: 020 7260 1000 
   (NOMAD and Broker)                Kevin Cruickshank 
                                     Charles Farquhar 
  Liberum Capital Limited           Tel: 020 3100 2000 
   (Joint Broker)                    Richard Crawley 
                                     Jamie Richards 
  Smithfield Consultants            Tel: 020 3047 2544 
   (Financial PR)                    John Kiely 
                                     Andrew Wilde 
 

Note to editors

About Premier

Premier is a 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 GBP6.7 billion of assets under management as at 30 June 2019.

LEI Number: 213800LK2M4CLJ4H2V85

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTFMGGNNRLGLZM

(END) Dow Jones Newswires

July 09, 2019 04:29 ET (08:29 GMT)

Premier Asset Management (LSE:PAM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Premier Asset Management (LSE:PAM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024