Premier Miton Investors launched today (November 15) as the merger of the two fund houses completes.
The combined entity, announced at the beginning of September, will manage £11bn assets under management and would have been the fifth largest net seller of retail funds in the UK market in 2018.
Shareholders of Premier, which listed on the Alternative Investment Market in 2016, will own 66 per cent of the combined company, with Miton shareholders owning the remainder.
The company today said today the merger would improve distribution relationships particularly with UK financial advisers, wealth managers and platforms across the UK.
Mike O'Shea, chief executive of Premier Miton Investors, said: “The creation of Premier Miton Investors creates a new, broader, stronger and exciting UK asset management business.
“Our merger is based on a strong belief in the value of active management and the conviction that we are very well placed to continue to create significant benefits for our existing and future clients through our complementary investment skill sets, client service platforms and financial strength.”
Mr O’Shea said the combination of the two fund house’s talents — in particular multi-asset solutions and high conviction active single strategy funds — would result in a greater range of relevant funds for clients across different asset classes and geographies.
In its most recent set of results, published October 10, Premier reported net outflows of £246m in the three months to the end of September with a drop in its assets under management of £184m.
By comparison, Miton had reported an increase in assets under management of £400m for the six months of the end of June 2019.
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