Recommended all-share merger with Miton Group plc

On 4 September 2019, Premier Asset Management Group plc and Miton Group plc announced that they had reached agreement on the terms of a recommended all-share merger of Premier and Miton. We are delighted to inform you that the merger was approved by Premier and Miton shareholders on 9 October 2019. The combined group will be rebranded Premier Miton.

The merger will bring together two complementary and culturally-aligned businesses to create a new combined group with enhanced scale and financial strength, including reported pro-forma combined assets under management of £11.4 billion (Premier Asset Management Group as at 30 June 2019, Miton Group as at 31 August 2019).

Importantly, both firms have a shared client-centred culture with a belief in active investment management, relevant products and strong investment performance. This is an exciting new development, bringing together two strong businesses to create a single, stronger business. 

The two businesses have complementary investment capabilities. Miton's specialism in genuinely active high conviction single strategy funds and investment trusts complements Premier's leading position in outcome based multi-asset funds, resulting in a balance of strategies by assets under management.

The combined group will create an active asset management business with a wider product range and greater scale to help attract and retain top investment talent and address the current and future needs of a broad range of clients. Our enhanced investment capabilities mean we will be well positioned to help our clients as they navigate an uncertain political and economic environment.

Premier Miton will have a strong distribution capability leveraging a more efficient operating platform, resulting in enhanced resources to provide good ongoing service to our clients, including the opportunity to invest further in digital initiatives to enhance client service.

We will have greater financial strength with a more diversified revenue mix, access to economies of scale and a robust balance sheet. This enhanced financial profile, resilience and stability is important as it will provide the financial resources and flexibility to invest in our business.

The effective date of the merger is expected to be 14 November 2019, though this is subject to regulatory approval. In the meantime, both businesses will continue to operate independently and your investments with us will continue as usual.

We believe this merger will make us a much stronger business, enabling us to further develop our investment and service proposition to meet current and future client demands. Ultimately, this should position us to continue to deliver added value for our clients.

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Risk and other important information

When you invest, your money is at risk because the value of investments, and any income from them, can go down as well as up and you could get back less than you invested. The past performance of an investment is not a guide to how it will perform in the future. Because there are many different types of investment risk and investors have different attitudes to risk, we are not able to categorise our investments as having a specific level of risk. We would therefore strongly recommend that if you do not have professional experience in matters relating to investments, you should speak with a financial adviser before making an investment decision.

Premier Asset Management is not authorised to provide investment advice or tax advice. Before making an investment decision, it is also important that you read the key documentation for that investment which is available in the literature section of the website, by contacting a financial adviser or by getting in touch with us directly. See ‘Contact us’ for more information or if you are unsure. You can find more details about the specific risks and literature that are relevant to each type of investment on the individual fund, portfolio or investment trust website pages.

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