Premier Miton Group CEO Mike O’Shea has waved off outflows of £222 million since the two companies merged stating that the group is well placed to take advantage of the reduction in political uncertainty and envisioned growth in investor confidence.
The group issued a quarterly unaudited statement of Assets under Management for the three months to 31 December 2019, which shows the group had a combined AUM of £11.6 billion.
The merger of Premier Asset Management and Miton Group to create Premier Miton Group completed on 14 November 2019. The figures show that in December 2018 the group had a combined net AUM of £6.4 billion.
In the three months to 31 December 2018 the combined group saw £65 million net inflows but since the merger it has seen net outflows of £222 million.
However, O’Shea (pictured) was upbeat saying: “With UK political uncertainty beginning to lift, we believe that investor confidence will improve in 2020. Against an expected more favourable background, we believe the combination of our broader product range, strong investment performance across different investment strategies, including our equity and multi-asset funds, and our enlarged distribution and marketing capabilities, means we are well placed for future growth.”
He added that it was still early days for the new entity but “progress has been swift in terms of creating the management structure for the new group and the planned synergies are now underway. We will update shareholders following the end of the half year period with more detail on [the] merger progress.”
Premier Miton’s range of investment strategies include multi-asset, equity, absolute return and fixed income.
