Premier Q2 inflows shrink to £3m

Multiple headwinds to blame

Premier Asset Management took in net inflows of £3m against a tough backdrop, according to its Q2 trading update.

In the three months to 31 March 2019, AIM-listed Premier's assets under management (AUM) stood at £6.8bn, higher than the same period last year when AUM was £6.4bn in spite of the various headwinds facing the asset management space. However, net inflows for the period was recorded at £3m, compared to last year's Q2 inflows of £175m, while the six-month comparable net inflow figures for 2019 and 2018 were £67m and £411m, respectively. Chief executive Mike O'Shea cited continued Brexit-related uncertainty, low investor confidence and market volatility as contributing factors to the grou...