Premier and Miton merger reaction: 'Some prospect of consolidation'

Complimentary fund ranges

The all-share merger between Premier Asset Management and Miton Group has widely been welcomed by commentators due largely to their “complementary fund ranges” and the “scale and distribution” it will give the combined business.

The pair told the market on Wednesday (4 September) they are combining to create a £280m asset manager, which will be renamed Premier Miton Group, with current Miton shareholders set to own a third of the entity. The group will have around £11.5bn in assets under management. Miton shares surged 30% on the news, with Premier's stock slipping 1%, suggesting the former's shareholders are the happier party. Both Ryan Hughes, head of active portfolios at AJ Bell, and Darius McDermott, managing director of Chelsea Financial Services, said the pair have "complementary fund ranges". Premie...