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(Sharecast News) - Premier Miton reported assets under management of 10.5bn as of 30 June on Friday, down from 10.7bn at the end of September last year, as net outflows continued in the third quarter but at a slower pace than in previous periods.
The AIM-traded firm recorded net outflows of 173m for the quarter, an improvement from 221m in the prior period.
Outflows from UK equity strategies fell by more than 50% compared to the average of the last four quarters, which the company attributed to improving investor sentiment and consistent fund performance.
"There were encouraging signs of progress during the quarter despite reporting a net outflow overall," said CEO Mike O'Shea.
"Demand for our absolute return and fixed income funds remained good, supported by consistent investment performance."
He also noted that while the firm's European equity strategy saw net outflows of 132m, the strategy delivered strong performance, ranking second out of 130 in its sector during the period.
"We believe that this positive performance will begin to translate into improved flow dynamics over the coming quarters," O'Shea said.
Over 70% of Premier Miton's funds delivered above-median performance over the past three and six months.
The company also announced that shortly after the period ended, it onboarded a new institutional absolute return mandate seeded with $50m, and was in advanced discussions on another mandate it expected to finalise before the end of the year.
O'Shea added that the quarter was shaped by "heightened volatility following the introduction of US tariffs and ongoing tensions in the Middle East", but said a more stable environment in the second half of the year could support conversion of the firm's strong new business pipeline into positive flows.
At 1024 BST, shares in Premier Miton Group were down 0.7% at 71p.
Reporting by Josh White for Sharecast.com.
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