Net inflows were 84 per cent lower at Premier Asset Management in the six months to the end of March 2019 than in the same period in 2018.
The asset manager saw £67m of net inflows in the six months period, compared with £411m for the same period a year before.
Despite this, and driven by positive market movements, the company saw a slight increase in total assets under management, from £6.4bn at the end of March 2018 to £6.8bn in March 2019.
The company made a profit of £9.6m during the period.
The information was contained in the half year results statement for the company, released to the stock exchange this morning (23 May).
Mike O’Shea, chief executive of Premier Asset Management, said: "Our business environment continues to be dominated by political uncertainty and low investor confidence, resulting in record low levels of UK investment industry net retail sales.
"Against this challenging backdrop, we are pleased to have recorded two quarters of positive net sales."
Mr O’Shea added: "During the period we strengthened our product range by launching three new multi-asset funds, designed to attract a broader range of investors.
"We continue to believe that our focus on relevant investment solutions for UK retail investors, including our range of fifteen multi-asset funds, means that as investor confidence returns, we are well positioned for the future."
david.thorpe@ft.com
What do you think about the issues raised by this story? Email us on fa.letters@ft.com to let us know.
