Premier profits rise to £2.5m; AUM tops £5bn

Boosted by multi-asset funds inflows

Premier Asset Management has announced pre-tax profit of £2.5m in its first annual results since the company listed in October, primarily driven by a 22% rise in AUM on the previous year.

In the firm's results for the year to 30 September, Premier said pre-tax profit was £2.5m, up from a loss of £0.8m for the same period in 2015.  This was primarily driven by the 22% jump in AUM from £4.1bn a year ago to £5bn, which was boosted by £309m in investment performance during the fourth quarter. The firm also saw  net flows of £778m for the year, despite Brexit volatility, and the firm said it had seen 14 consecutive quarters of positive flows. Flows were particularly strong into the firm's multi-asset funds, led by fund manager David Hambidge, and Premier said this would ...