AIM-listed fund manager Premier Milton said demand for UK equities remained weak as it reported a slight decrease in assets under management (AUM).
In a trading update covering the third quarter, Premier Milton reported that its AUM stood at £10.6bn at the end of June.
This was down from £10.7bn at the beginning of the quarter, but eight per cent higher than at the start of the financial year partly thanks to the acquisition of Tellworth Investments.
In the past three months, the firm reported net outflows from its equity funds and multi-asset funds, which more than offset demand for its fixed-income funds.
Mike O’Shea, chief executive, commented: “It is pleasing to note that we have seen continued demand for our fixed income funds as well as a more recent improvement in the flow position for our international equity…
