LONDON (ShareCast) - (ShareCast News) - Premier Asset Management Group's total assets under management increased to £5.84bn in the three months to 30 June, the company said in its third quarter trading update on Tuesday, with total net inflows of £231m in the period.
The AIM-traded firm reported total net inflows of £636m for the rolling 12 months to 30 June.

It claimed "continued strong investment performance" net of all fund charges, with 96% of assets under management above median in the three years to 30 June, and 60% considered first quartile.

Over the five years to 30 June, 97% of assets under management were above median, and 84% were considered first quartile.

"We are pleased to report another strong quarter for the business with continued good investment performance and net inflows of £231m," said chief executive Mike O'Shea.

"This was our seventeenth successive quarter of positive net inflows.

"These results have been achieved in an environment of continued market uncertainty driven by various factors, including the unwinding of quantitative easing and the lack of clarity arising from the UK referendum result last year."

O'Shea pointed out that at the end of quarter, the FCA published their final report on their Asset Management Market Study.

"We note their recommendations and are now waiting for the outcome of the next stage of consultations."

The company's board and management believed that, against a background of market uncertainty, low interest rates and the ongoing need for people to invest for growth, income or capital preservation, the value of good, active management was critical, O'Shea explained.

"We continue to believe that our strategy of offering relevant investment products, which are designed to meet the different long‐term needs of UK investors, backed by good investment outcomes after charges, a strong distribution capability and scalable operating platform, positions us well to deliver for both our clients and our shareholders."

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