Premier Miton (LSE:PMI) reported assets under management of £9.6 billion as at 31 December 2025, representing a 7% decline from £10.3 billion at the start of the financial year, largely reflecting significant net outflows during the first quarter.
The group recorded £870 million of net redemptions over the period, primarily driven by withdrawals from US and European equity strategies as well as its UK multi-cap offering. Management attributed the outflows to continued investor caution, rotation away from growth-oriented equities, and persistent pressure on UK equity markets. A further £119 million of outflows related to previously disclosed corporate actions and capital returns associated with two investment trusts.
These pressures were partially offset by solid demand for fixed income strategies, which generated £163 million of net inflows. Premier Miton also disclosed that it is in advanced discussions to secure an additional institutional absolute return mandate valued at approximately $80 million, highlighting a strategic pivot toward areas where client appetite remains stronger.
Despite the challenging asset flow environment, management adopted a cautiously positive stance on the outlook. The firm cited improving short-term performance across several key strategies, the potential for a more favourable backdrop for active equity managers as interest rates decline, and continued progress in expanding international distribution. Ongoing cost discipline remains a central focus, while the group continues to evaluate selective M&A opportunities to enhance its competitive positioning.
From a market perspective, the shares reflect a mix of operational challenges and negative technical signals, alongside concerns around valuation. While the dividend yield remains attractive, it is tempered by ongoing pressures on profitability and cash generation.
More about Premier Asset Management
Premier Miton Group plc, operating under the Premier Miton Investors brand, is a UK-based active asset management firm offering equity, fixed income, multi-asset and absolute return investment strategies. The company serves both wholesale and institutional clients, with a focus on delivering long-term investment outcomes through actively managed products across UK and international markets.
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