Premier Miton Investors  

Premier Miton’s inflows climb £351m in third quarter of growth

Premier Miton’s inflows climb £351m in third quarter of growth

Premier Miton has announced its third successive quarter of positive net fund flows, after seeing strong interest in its European and US equity funds.

Between April and June, net inflows totalled £351m, adding to the fund manager’s financial year total of £710m. 

Assets under management also climbed £1bn in the quarter, from £12.6bn in March to a “record” £13.6bn in June.

Mike O'Shea, the fund manager’s chief executive, cited “strong flows” into both the firm’s European and US equity funds.

The launch of its European Sustainable Leaders fund in the quarter, which is managed by Carlos Moreno and Thomas Brown, also attracted “good investor interest” to the tune of £60m, according to O'Shea.

The fund invests in European companies aligned with sustainable growth themes such as health and wellbeing, affordable and clean energy, and technological advancement.

In September, the firm plans to launch a European equity income fund managed by newcomer Will James, who joined last month from Aberdeen Standard Investments.

“We continue to believe that income will be a key demand pool over the years ahead,” said O'Shea.

“This new fund will further increase the choice that we are able to offer investors in this important area of the market.”

Following on from the previous quarter, UK equity funds again played a role in Premier Miton’s asset growth this quarter.

O'Shea also cited the firm’s diversified multi-asset fund range and its fixed income bond funds as reasons for the “good quarter”.

Between January and March, multi-asset funds had suffered outflows of £384m amid a series of changes.

The shake-up, announced in January, saw fees slashed and David Jane and Anthony Rayner given control of the Multi Asset Growth & Income and the Multi Asset Conservative Growth funds.

But this quarter, O’Shea assured investors: “The group now has a well-diversified portfolio of actively managed and strong performing funds capable of delivering attractive returns for investors. 

“We have a strong business platform capable of managing significantly higher levels of assets under management.”

ruby.hinchliffe@ft.com