Premier Miton assets up 38 per cent as post-merger growth continues
Premier Miton’s assets under management rose to £12.6bn in the six months ended 31 March, a 38 per cent year-on-year increase.
The group also swung to net inflows of £359m during the period, compared to outflows of £389m in 2020.
Pre-tax profit rose 17 per cent to £6.2m, while the group proposed an interim dividend of 3.7p per share.
Following the half-year update, shares in Premier Miton shot up by more than two per cent as markets opened.
Premier Miton focuses on delivering for investors through active management across its range of investment strategies, which include equity, fixed income, and multi-asset.
Its financial performance has improved since Premier merged with Miton two years ago after it swung to net outflows.
Mike O’Shea, chief executive officer at Premier Miton, said the firm has made “considerable progress” since its merger in 2019.
“Premier Miton is now a well-diversified asset manager operating on a stable and sustainable platform with a robust balance sheet.
“With attractive investment performance and a clear sense of client service, coupled with a growing brand and targeted marketing activity, this is an exciting time for the firm.
“I believe that the business is well positioned to deliver for our investors and for our wider stakeholders over the years ahead.”