LONDON (ShareCast) - (Sharecast News) - Premier Miton reported closing assets under management of £11.1bn at the end of its first quarter on Friday, up from £10.6bn quarter-on-quarter.
The AIM-traded firm said net inflows totalled £8m for the three months ended 31 December.

It described a "strong" relative investment performance, with 82% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure.

"The group's assets under management ended the quarter at £11.1bn - an increase of 5% on the opening position for the year," said chief executive officer Mike O'Shea.

"We are encouraged by this performance given the challenging landscape for the wider sector.

"The group experienced positive net flows for the quarter totalling £8m with inflows into our US equity, fixed income and diversified funds."

O'Shea said the inflows were partially offset by outflows from the firm's European and UK equity open-ended funds.

"Our investment performance remains relatively strong with 82% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure, with both our newer teams and funds and the more established products performing well.

"Despite the ongoing challenging economic conditions, our clear proposition of active management and our diversified product range should position the group well when confidence returns."

At the close on Friday, shares in Premier Miton Group were up 1.72% at 118.5p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE