Premier Miton Investors launched following successful merger
Following its announcement in September, as the merger of the two fund houses completes, Premier Miton Investors has successfully launched.
The combined entity will manage £11bn of assets under management and would have been the fifth largest net seller of retail funds in the UK market in 2018.
In an all paper deal, shareholders of Premier Asset Management, which listed on the Alternative Investment Market in 2016, will own 66% of the combined company, with shareholders in Miton Group Asset Management owning the remainder.
‘The creation of Premier Miton Investors creates a new, broader, stronger and exciting UK asset management business’
Mike O’Shea, chief executive of Premier Miton Investors said the merger would improve distribution relationships particularly with UK financial advisers, wealth managers and platforms across the UK: ‘The creation of Premier Miton Investors creates a new, broader, stronger and exciting UK asset management business.
‘Our merger is based on a strong belief in the value of active management and the conviction that we are very well placed to continue to create significant benefits for our existing and future clients through our complementary investment skill sets, client service platforms and financial strength.’
Mr O’Shea said the combination of the two fund house’s talents would result in a greater range of relevant funds; in particular multi-asset solutions and high conviction active single strategy funds delivering for clients across different asset classes and geographies.
As reported in FT Adviser, in its most recent set of results, published on October 10th, Premier reported net outflows of £246m in the three months to the end of September with a drop in its assets under management of £184m.
This contrasts with Miton Group which reported an increase in assets under management of £400m for the six months of the end of June 2019.
Visit the new Premier Miton Investors site here