Premier sees £667m inflows despite ‘challenging’ sales environment

Premier Asset Management has warned that political events have created a challenging political backdrop for fund sales despite the firm announcing its 16th consecutive quarter of net positive inflows in its latest trading update.

Over the last 12 months, the firm has seen £667m net inflows with AUM increased to £5.5bn for the period ended 31 March.

Mike O’Shea says macro political events continued to dominate the market environment during the past six months.

Net inflows over this period were £310m.

O’Shea adds: “Inevitably, this has led to heightened caution amongst retail investors and that has made the backdrop for fund sales more challenging.”

Looking forward, the challenges resulting from the UK’s decision to leave the European Union are likely to continue to dominate the investment landscape for UK based investors.

“However, we are confident that our investment teams are well placed to navigate these challenges for our clients.”

Last month the asset manager announced that it had hired Geoff Kirk of Schroders to become co-manager of the Premier Optimum Income fund with Chris White.