StockMarketWire.com - Wealth manager Premier Miton reported flat first-quarter assets under management after experiencing net outflows from its funds.

Assets under management at 31 December remained at £13.9 billion, unchanged from £13.9 billion at the end of September.

Premier Miton said it had seen £87 million of net outflows from open ended funds for the quarter.

'Although it was disappointing to experience net outflows following four quarters of net inflows totalling £830 million, the net flows reflect a challenging period for UK fund flows in general, and for UK equities in particular,' chief executive Mike O'Shea said.

'Importantly, our investment performance remains strong, with 80% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure, with both our more established and newer funds performing well.'


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