Premier AM sees £140m of inflows in Q4 following AIM listing

Mike-O'shea-Premier

Premier Asset Management saw inflows of £140m in the three months to 31 December, the firm has revealed in its first quarterly update since its AIM listing.

The figures marks the fifteenth consecutive quarter of net positive sales, while the total net inflows for the rolling 12 months to the end of 2016 reached £684m.

Total assets under management rose to £5.2bn as at 31 December, up from £5bn at the start of December when the firm revealed assets had climbed 22 per cent.

The first interim dividend is expected to be announced later this month with payments made in March.

Mike O’Shea, chief executive officer, says: “The first quarter of the current financial year was overshadowed by the US election and although the early reaction of most major equity markets was to head higher, the uncertainty this created made for a generally difficult environment for fund sales.

“Despite this, we have continued to increase AUM and had our fifteenth consecutive quarter of net positive sales, which is pleasing. Our focus, as ever, remains on achieving good outcomes for clients and it is reassuring to note that our shorter term and longer-term performance numbers demonstrate success in this regard.

O’Shea says the market for fund sales will continue to be “very competitive” in 2017 due to political and economic uncertainties.

He adds: “Despite this, we are confident that our strategy of offering relevant investment products, which are designed to meet the different long‐term needs of UK investors, backed by good investment returns, a strong distribution capability and scalable operating platform, positions us well to deliver for our fund investors and our shareholders.’’