This follows the resignation of Rupert Morrell who is leaving the industry.
Jennings joined PAM in March 2008 as senior investment manager for global equities and currently runs the global DSR fund launched last May.
He was previously with Morley Asset Management as senior fund manager and head of global equities for nearly six years.
Premier chief executive Mike O’Shea says: “In Mike, we have a fund manager with a raft of global investment management skills and an impressive track record. We are confident that he has the necessary experience to take over the management of the Premier European growth fund. We are sorry that Rupert is leaving Premier after four years with the company and wish him well in his future career.”