The assets under management (AUM) of Guildford-based fundhouse Premier Asset Management were unchanged for the 2018 calendar year at £6.4bn.
A trading update released to the market this morning (10 January) showed assets were unchanged on 31 December 2018 relative to the same date in 2017.
For the three months to the end of December 2018, the company attracted net inflows of £65m, and over the twelve month period inflows were £562m.
This implies that adverse market movements had eradicated some of the gains from inflows.
In the trading update, Premier stated that 84 per cent of its funds were above the medium level of return achieved in the respective peer group sectors in which those funds sit.
Mike O’Shea, chief executive at Premier said: "It has been a challenging quarter, with subdued net inflows against a background of economic and political uncertainty, and market volatility.
"Over the period, the UK equity market fell 9.6 per cent and global stock markets fell 10.5 per cent.
"We believe the continued uncertain environment is driving nervousness amongst investors generally. However, we are confident our strong distribution capabilities, coupled with our continued strategy of focusing on active management of relevant investment products, including our twelve multi-asset funds and range of income funds, mean we continue to be well placed for the future."
david.thorpe@ft.com
