StockMarketWire.com - Premier Asset Management's underlying profit before tax increased by 39% to £14.7m in the year ended 30 September, with assets under management (AUM) up by 22% to £6.1bn.

AUM as at close of business on 28 November 2017 were £6.3bn.

Net flows were £747m, down from £778m the year before.

The company has now seen 18 consecutive quarters of net positive flows.

Mike O'Shea, chief executive officer, said: "I am pleased to report another successful year for Premier Asset Management. This has been achieved by continuing to produce good long-term investment outcomes for our clients, after fees, across a range of relevant investment products. This, coupled with the strength of our distribution capabilities and broader business platform has enabled us to grow assets under management during the year.

"Although we expect investment and political conditions to remain uncertain, and quite possibly volatile, over the coming year, we continue to see good opportunities for investment firms such as Premier and for our investors. We believe that the ongoing low interest rate environment will continue to make well diversified, income paying investment strategies attractive and we feel strongly that good active management will continue to offer investors the opportunity to achieve their long-term investment goals."




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