2021 Results

A GOOD TIME FOR ACTIVE MANAGEMENT Combined weight of the five largest stocks in the S&P 500 index 25% 24% 23% Top five as of 30 Sep 2021 Apple 6.1% 22% Microsoft 5.8% 21% Amazon 3.8% 20% Facebook 2.2% 19% Google 4.3% Total 22.2% 18% 17% 16% 15% 14% 13% 12% 11% 10% 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Source: Boomberg data as of 30 September 2021. Not to be considered as recommendations to buy or sell any securities. Premier Miton INVESTORS 8% of the stocks in S&P500 give an investor 50% of the risk Active management tends to outperform when market concentration is declining. Average active share of the Premier Miton fund range is >85% 2021 Results 35 35

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