Premier Asset Management has seen a 13 per cent increase in funds under management over the past year, but has warned that flows have slowed down as investors take a “wait-and-see” approach to Brexit.
Assets stood at £6.9bn at the end of September, according to results released this morning, up from £6.1bn a year previously, on the back of an expansion in the firm’s multi-asset offering.
While net flows were positive at £734m, they were down slightly compared to the previous year however, where they came in at £747m.
Chief executive Mike O’Shea says that flows have dipped after the end of the reporting year amid ongoing discussion around the government’s final Brexit deal.
He says: “Trading during the early part of the current financial year has been more challenging as the UK government seeks to finalise an acceptable withdrawal agreement with the EU. Anecdotal evidence suggests that retail investors are taking a wait-and-see approach and, as a result, fund flows have been slower in the first few weeks of the current year than they have been in recent months.
“The need for individuals to save and invest for their future remains critically important even if the economic and political environment is uncertain.”