AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Assets under Management (AuM) rose by 9% to £10.7 billion as of 30 September 2024, reflecting a strong recovery in market conditions.
- Adjusted profit before tax stood at £12.2 million, despite challenging market outflows earlier in the year.
- Strategic advancements include full integration of the Tellworth acquisition and the establishment of an offshore fund platform in Ireland.
Premier Miton Group plc (LSE:PMI), an AIM-quoted fund management company, has announced its final results for the year ending 30 September 2024. The Group demonstrated resilience and strategic progress, achieving a 9% increase in Assets under Management (AuM) despite headwinds in the broader investment landscape.
Financial Performance
Premier Miton closed FY24 with £10.7 billion in AuM, up from £9.8 billion in 2023. By 30 November 2024, AuM had further increased to £10.9 billion, signaling continued recovery. Net outflows for the year totaled £318 million, a significant improvement from the £1.1 billion outflow reported in 2023.
Adjusted profit before tax stood at £12.2 million, down from £15.7 million in FY23, while adjusted earnings per share (EPS) fell to 6.3p from 8.8p in the prior year. Profit before tax decreased to £3.2 million, compared to £5.9 million in FY23.
The Group maintained its dividend policy, proposing a final dividend of 3.0p per share, contributing to a total annual dividend of 6.0p, consistent with the previous year.
Operational Highlights
Premier Miton’s investment performance remained robust, with 68% of its funds ranking in the top two quartiles of their respective sectors since launch or fund manager tenure. Growth was particularly notable in Fixed Income and ex-UK funds, where investor interest continued to build.
The Group successfully completed the integration of Tellworth, delivering the anticipated synergies and strengthening its active investment offering. Additionally, an offshore fund platform was established in Ireland, enhancing Premier Miton’s ability to serve international investors. New distribution channels, including a foothold in South Africa, have broadened the Group’s global reach.
