Premier assets hit £5bn in first results since IPO

OShea Mike Premier

Premier Asset Management’s assets have risen 22 per cent to hit £5bn.

The results come less than two months since the firm’s listing on the Aim stock exchange, which raised £47.4m, eliminating all debt.

Ebitda rose 36 per cent to £10.9m.

Chief executive Mike O’Shea describes 2016 as a positive year for the asset manager, including strong net flows.

“Although the outlook for markets and investor sentiment remains uncertain, with the potential for further volatility ahead, we believe that the business is well placed for the current financial year as well as for the longer term.

“Implementing our strategy of offering relevant investment products to address the long term needs of UK investors, producing good investment outcomes and maintaining a disciplined approach to cost management alongside a scalable operating platform, will support our objective of delivering strong net flows and sustainable earnings, cash flow and dividends for shareholders over time.”