Premier Asset Management has reported an 11 per cent increase in its assets under management helped by strong inflows over the first half of its financial year.
In its half year results, published today, the UK asset manager says assets increased to £5.5bn over the six months ended 31 March, a similar rate of growth to the same period last year, when AUM reached £4.5bn.
The firm says flows of £311m over the six month period boosted AUM although this figure was lower than the £422m flows it collected during the same period last year.
Chief executive Mike O’Shea says: “Macro political events continued to dominate the market environment during the past six months. Inevitably, this led to heightened caution among retail investors for the majority of the period under review.
“While this has made the backdrop for fund sales more challenging, there has been some evidence of an improvement in the short term, which is encouraging. We are therefore pleased to report positive net flows across our fund range over the six month period of £311m.”
Looking forward, O’Shea says Brexit will continue to present a challenge for UK-based investors in a time where monetary policies globally might soon terminate.
He says: “We believe that in this environment, where interest rates are still likely to remain at historic low levels, the value of good, active management will be ever more important. We are confident that our investment teams are well placed to navigate these challenges for our clients.”