27. Premier Miton Group Plc
Investment Expertise
Based in Guildford, Premier Miton Group Plc manages funds and provides investment solutions for a wide range of clients, from individual investors to financial advisers. Operating in the financial services industry – specifically in asset management – the company focuses on delivering actively managed funds that aim to outperform market benchmarks, with a strong emphasis on UK and global equities, fixed income, and multi-asset strategies.
Premier Miton generates revenue primarily through management fees charged on the assets it oversees for clients. These fees are typically a percentage of assets under management (AUM), often ranging from 0.6% to 1% annually, depending on the fund type. The company manages a variety of funds, including the Premier Miton UK Multi Cap Income Fund and the Premier Miton European Opportunities Fund, which invest in stocks, bonds, and other assets to generate returns. It also earns performance fees on certain funds if they exceed predefined benchmarks, though this income stream can be volatile. In the year ending September 2024, Premier Miton reported revenues of £58.2 million, down 11% from £65.3 million the previous year, reflecting net outflows of £0.8 billion and challenging market conditions, with AUM dropping 3% to £9.8 billion.
Strategically, Premier Miton has been expanding its offerings, launching new funds like the Premier Miton UK Sustainable Equity Fund in 2024 to tap into growing demand for sustainable investing. The company also provides investment management services to third-party platforms, earning additional fees by managing portfolios for wealth managers and advisers. Employing around 160 people, Premier Miton prides itself on its boutique approach, with experienced fund managers like Gervais Williams driving its investment philosophy. However, it faces headwinds – rising interest rates and economic uncertainty have led to client withdrawals, while a 2025 regulatory change requiring clearer cost disclosures has increased pressure on fees. Additionally, the company’s smaller scale compared to larger asset managers makes it more vulnerable to market swings, as seen in a 5% share price drop in April 2025 following a cautious market outlook.
Premier Miton’s focus on active management and niche strategies offers potential for strong returns, but it must navigate a tough economic climate, competitive pressures, and evolving investor preferences to maintain growth.
The good days for asset managers have long since passed. Fees are only going down and costs are going up. One can even make a case that this is an industry particularly threatened by the emergence of AI. As with Aberdeen, released on Wednesday, this is best avoided despite its apparent cheapness.
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