Premier Miton Group plc
Premier Miton Group plc is a UK-based active asset management group listed on AIM (ticker PMI), managing a broad suite of funds and investment trusts across equities, fixed income, multi-asset and absolute return strategies. It operates a single, scalable investment platform with 53 products and closing Assets under Management ('AuM') of £10.3 billion at 30 September 2025, deriving its revenue from management and performance fees charged on AuM. Revenue is generated solely in the UK and Ireland, though the Group undertakes some transactions in US Dollars and Euros.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 10 Dec 2026
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Premier Miton Group plc manages investment funds and earns fees on the money it looks after. In the year to 30 September 2025, revenue slipped to £63.3m from £64.0m, and profit before tax fell to £2.4m from £3.2m. The report says more money left its funds than came in. The fee earned on each pound managed also fell, because the mix of funds investors held changed. Higher marketing spending, including a new brand look, added to costs. Profit was further held down by £1.4m of one-off costs, mainly from job cuts made to save money. Cash at the year end fell to £31.3m from £35.9m, and the group has no bank borrowings. The dividend was kept at 6p a share, slightly more than its underlying earnings per share. Management said it is "cautiously optimistic" that conditions will improve. It is seeking further cost savings and may look at buying other firms. The auditor gave a clean opinion, and the directors found no doubt about the company's ability to keep trading.
From the reportevery line sits on the page it namesWhat drove revenueManagement fees on Assets under Management (AuM)
Revenue of £63.3m comprised management fees £63.4m less rebates £2.5m, performance fees £2.3m, and other income £0.1m; net management fee margin fell 4% to 56.7bps
page 26AndNet fund flows across product range
Net outflows of £618m for the year (2024: £318m outflows, which included net inflows of £440m from mandates acquired/disposed); fixed income and absolute return strategies attracted net inflows of £765m combined
page 4What moved the marginheadwindNet management fee margin decline
Net management fee margin fell 4% to 56.7bps (2024: 58.9bps) due to product mix change
page 26AndtailwindCost reduction programme
£3m annual cost savings identified April 2025, mostly implemented; further £2m annualised savings targeted over next 12 months
page 27What management saidChair: 'We remain well positioned to secure positive net inflows... as investor sentiment improves... We continue to explore a range of new business initiatives and are considering value additive M&A activity in our sector as the industry reshapes.'
page 7After the year endNo material events after the balance sheet date / no subsequent events impacting the Group or Parent Company as at 3 December 2025 (signing date)
page 77The dividendPragmatic dividend approach reflecting market volatility and capital needs; proposed unchanged full-year dividend of 6.0p per share (interim 3.0p paid, final 3.0p recommended), representing a payout of 109% of adjusted EPS (marginally uncovered by earnings); dividend to be paid 13 February 2026 to shareholders on register 16 January 2026
page 9Going concern and the auditDirectors adopted the going concern basis having assessed key risks, financial adequacy and business model; no material uncertainties identified. Auditor EY LLP issued an unqualified ('true and fair view') opinion; key audit matters included revenue recognition, impairment review and going concern; EY to be proposed for reappointment at the AGM
page 79The risks it names first- Strategic, reputational and business risk — misalignment between strategy and market conditions, poor performance, or stakeholder dissatisfaction, including concentration and key-personnel change riskp.45
- Operational risk — inadequate or failed internal processes, people, systems or external events across people, IT and outsourced servicesp.45
- Financial risk — exposure to market volatility, interest rate fluctuations, currency movements and credit defaults affecting profitability, capital adequacy and ability to meet obligationsp.45
- Legal & regulatory risk — risk of regulatory sanction or scrutiny from failure to comply with applicable regulations/legislation in a complex regulatory environmentp.45
Read from C001032-AR-2025-ch.
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