StockMarketWire.com - Premier Asset Management Group said it boosted its annual assets under management by 6.3% after it modestly boosted net inflows in its final quarter.

Assets under management for the year through March rose to £6.8bn, up from £6.4bn on-year.

Net inflows of £3m in the three months through March compared to higher inflows of £175m on-year.

Total net inflows for the full year through March were £390m, down from £847m on-year.

'Despite continued political and economic uncertainty caused by the ongoing Brexit negotiations, low investor confidence, volatile markets and record low investment industry net flow figures, Premier managed to produce positive net inflows and has continued to produce good long term investment performance after fund charges,' chief executive Mike O'Shea said.

'Notwithstanding net outflows for the industry as a whole, it is encouraging to note that support for our multi asset funds remained positive, albeit at lower levels during this more difficult period, with net inflows of £125m over the six months.'

'In common with much of the industry, we did however experience net outflows from our UK equity funds, a sector which has been out of favour with investors for some months now.'

'Looking forward, we continue to believe the combination of our relevant product range, investment performance record, strong brand and distribution capabilities, means we are well placed to help our clients in these challenging conditions and when the investment environment and confidence improves.'




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