Premier AM records first quarter of outflows for six years

Challenging conditions

A period of continued "challenging conditions for the investment industry" has seen Premier Asset Management's run of 24 consecutive quarters of net inflows come to an end.

In its Q3 update to the market released this morning, Premier said it saw net outflows of £55m in the three months to 30 June 2019. Consqequently, its assets under management (AUM) fell by £53m to £6.7bn. The £55m of net outflows compares to net inflows of £202m in the corresponding period in 2018. For the rolling 12 months to 30 June 2019, though, the group saw net inflows of £133m, but that was down from £819m in the rolling 12 months to 30 June 2018. Premier appoints head of responsible investing from HSBC GAM CEO Mike O'Shea said the three-month period was challenging, with ...