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Multi-asset drives Premier AUM to record £6bn

Mike O’Shea is chief executive at Premier Asset Management

Premier Asset Management has reported a record £6.1bn assets under management boosted by continued appetite for multi-asset strategies among investors.

In its trading update for the fourth quarter released today, the boutique asset manager says net inflows over the fiscal year to September reached £747m. The firm collected £205m net flows over the last quarter.

Premier claims this is the eighteenth successive quarter of positive net inflows.

Inflows helped the firm grow its assets under management by 4 per cent during the quarter and 22 per cent in the year, in line with analysts’ forecast.

Premier says 96 per cent of its retail AUM was above median over a three year period, 97 per cent over five years and 70 per cent and 92 per cent respectively achieving first quartile performance in their respective IA sectors.

These figures indicate 83 per cent of Premier’s total AUM as of the end of September and exclude absolute return funds, investment trusts and segregated mandates offered by the company.

Premier chief executive Mike O’Shea says:“This strong performance has been achieved despite a considerable amount of economic uncertainty during the year. Our success has been built on achieving good long-term investment outcomes for our clients, after fees, across our range of relevant investment products.

“We remain convinced that over the long term, active management represents the best way of achieving our clients’ investment objectives.”

O’Shea notes that Brexit-related uncertainty will continue, but says its “investment talent, product range, investment performance track record and distribution capabilities” make the firm “well positioned for the future”.

Liberum analyst Justin Bates says: “We would agree with the company’s assessment. Despite market uncertainty, PAM’s product mix and distribution strategy means it is ideally placed to capitalise on industry growth themes, for example rapid growth in multi-assets distributed via IFAs and platforms.

“The year 2017 has been a strong year for industry net inflows and multi-asset remains a buoyant market. Taken with good fund performance at PAM, we enter the financial year of 2018 with a high degree of confidence in our forecasts.”

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