Premier Miton Group has posted a drop in assets under management and significant net outflows for the second quarter of 2023.
In its trading update for the three months to 30 June released today (14 July), the company said it had closed the quarter with £10.5bn AUM, down from £11bn at the end of Q1, as it recorded net outflows of £449m. More specifically, the only strategies that experienced net inflows in the second quarter of 2023 were the company's segregated mandates, with £118m. Premier Miton average assets drop 17% over six months as net outflows persist CEO Mike O'Shea said fixed income was a positive area for the company, with £175m inflows over the quarter, although this was partly offset by £70...
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