Premier Asset Management posted a 9 per cent boost in assets under management in three months, as the group saw strong demand for its multi-asset funds.
According to a trading update published today (24 October) for the quarter ending 30 September, the company saw assets under management reach almost £5bn, up from the £4.6bn posted at the end of June.
It also reported net inflows of £778m for the year ending 30 September, although net sales slowed over the most recent quarter, hitting £95m compared to the £261m reported between April and June.
Mike O’Shea, chief executive officer of Premier Asset Management, said the growth in assets under management was supported by strong net sales, helped by demand for the firm’s multi-asset, income and absolute return funds.
“Despite the market volatility following the EU referendum decision, we have continued to increase AUM over the fourth quarter and recorded positive net sales in each of the three months, supported by demand for the company's multi-asset funds.”
Assets managed by Premier have climbed during each quarter, from £4.1bn at the end of December, to £4.5bn at the end of March, £4.6bn at the end of June, to almost hit the £5bn mark at the end of last month.
Earlier this month, the company confirmed its intentions to float on the stock exchange, offering £64m of shares to investors.
Mr O’Shea pointed to the firm’s strategy in offering “relevant” investment products designed to meet the different long-term needs of UK investors, and said he was confident the firm was positioned well to deliver for fund investors and shareholders.
