Investor Presentation
INCOME STATEMENT
Unaudited
six months
31 Mar 2021
Unaudited
six months
31 Mar 2020
30 Sept 2020
Average AuM (Em)
11,819
9,928
10,110
Closing AuM (Em)
12,602
9,145
10,608
Premier Miton
INVESTORS
Audited
year to
AuM increased by 19% on the opening position for
the period
Net inflows in the period were £359m (2020 HY: £389m
net outflows)
Net revenue
38.5
33.4
66.8
Net management fee
64.2
67.4
65.9
margin (bps)
Administration expenses
(26.6)
(21.3)
(44.4)
Adjusted PBT
11.9
12.2
22.4
Amortisation
(2.4)
(2.1)
(4.5)
Exceptional/merger-
(1.3)
(3.1)
(4.7)
related costs
Share-based payments
(2.1)
(1.6)
(3.6)
Profit before tax
6.2
5.3
9.6
Net revenue increase driven by higher average AuM and a
full six-month contribution from the former Miton funds
Net management fee margin was 64.2bps reflecting the
change in the AuM mix of the Group
Administration expenses increased by 25%, these are
detailed further on page 9
Amortisation includes a full six months of charge for the
intangible assets recognised upon merger
Merger completed in the period with £1.2m of
non-recurring costs recognised (2020 HY: £3.0 million)
Investor presentation
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