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Equities demand drives inflows to Premier Milton
StockMarketWire.com
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Investment firm Premier Miton has seen its assets under management increase to £ 12.6bn with a second consecutive quarter of positive net inflows.
CEO Mike O'Shea said: "For the first time in many months, and as we had expected at the time of our last update to shareholders, we saw increasing demand for our UK equity-focused strategies.
This sector has been out of favour with investors for some time and it is one where we have a broad and strongly performing range of funds.
Should this recent improvement in investor sentiment be maintained, we believe that the group is well placed to benefit from increasing fund flows given our excellent track record in the area.
However, the firm's multi-asset funds saw outflows of £384m for the period amid a number of changes to the funds with the aim of reducing the overall costs for investors.
Of the £3.9 billion the group now manages in multi-asset funds, some £2.2bn is managed on a multi-manager basis and £1.7bn is managed through direct investment in underlying securities.
OShea added: We continue to believe that both strategies have a role to play in client portfolios and we are proud of our long-term investment records in both areas.'
At 9:22am: (LON:PMI) Premier Miton Group PLC share price was 0p at 132.5p
Story provided by StockMarketWire.com
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