ESG Investing  

Premier Miton introduces sustainable multi-asset fund amid outflows

Premier Miton introduces sustainable multi-asset fund amid outflows

Premier Miton has renamed one of its multi-asset funds to highlight its new focus on environmental, social and governance (ESG) and sustainability.

In an announcement today (January 11), the firm said from March 2022, the Premier Miton Balanced Multi Asset Fund will be renamed Premier Miton Diversified Sustainable Growth Fund.

The change is being made to reflect its focus on “investments with a strong Environmental, Social and Governance (ESG) profile and those we believe offer longer term sustainable growth themes”.

It comes as the firm experienced net outflows for the first time after four quarters of growth.

It posted net outflows of £87m from open ended funds in the quarter.

The ESG fund will be managed by the same investment team. Back in March 2021, Neil Birrell, chief investment officer for Premier Miton, took over the management of the fund.

Assets will be allocated between fixed income, equities, property shares, and alternative investments. 

Premier Miton’s investment teams will then select a diversified range of investments according to the opportunities available.

Mike O'Shea, chief executive officer at Premier Miton, said: “Our key strengths of investment excellence, active management and acting responsibly as we move towards a more sustainable future, coupled with our strong financial position means I am confident that Premier Miton is well positioned for future growth."

Turn to outflows

The firm disclosed its assets under management stood at £31.9bn as of December 31, 2021, same as at September 30 2021.

But it said it had experienced net outflows of £87m from open ended funds in the quarter.

O’Shea said: “The closing Aum includes the previously announced winding up of the £101m Acorn Income Fund Limited and £87m of net outflows.

“Although it was disappointing to experience net outflows following four quarters of net inflows totalling £830m, the net flows reflect a challenging period for UK fund flows in general, and for UK equities in particular. 

“Importantly, our investment performance remains strong, with 80 per cent of funds in the first or second quartile of their respective sectors since launch or fund manager tenure, with both our more established and newer funds performing well.”

amy.austin@ft.com

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