Premier sees £171m net inflows in Q1 2017

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Premier sees £171m net inflows in Q1 2017

Newly-listed fund group Premier has seen a positive start to 2017, securing £171m of net inflows in the first three months.

The firm said in its second-quarter results that the three-month period marked 16 consecutive quarters of positive inflows.

It had previously said that flows in the 12 months to September 30, 2016 were below levels seen in 2015, following what was a difficult period for most fund groups in terms of attracting investor interest.

Assets under management had reached £5.5bn by March 31 2017 following strong performance across its range, Premier announced in its latest update.

Chief executive Mike O'Shea said  macro and political events meant investors were still exercising caution, however.

"That has made the backdrop for fund sales more challenging. Despite this, we are pleased to report strong positive net flows across our fund range," he added.

Premier recently announced the hiring of Geoff Kirk from Schroders as the firm re-vamped the manager line up on its £84m Optimum Income fund. Chris Wright will step down and be replaced by head of UK equities Chris White and the incoming Mr Kirk.