AIM-listed asset manager Premier Miton Group has published an update on its assets under management (AUM) for the fourth quarter of its financial year.

AUM hit £13.9 billion at 30 September this year, a £3.3 billion increase on a year-on-year basis. The firm also announced that it has enjoyed inflows of £850 million for the year, a stark contrast to the £619 million of outflows it saw at the same point last year.

For the quarter itself, the firm saw £120 million of inflows into its products. Premier Miton also added to its range of income funds with the launch of the Premier Miton European Equity Income Fund during the quarter. The new fund is aimed at clients who seeking diversified equity income strategies at a time of low interest rates and low bond yields.

Mike O'Shea, CEO, said in a statement to the market: “I believe our core qualities of high performing, genuinely active investment teams, relevant and diversified investment products, robust balance sheet and proven distribution capabilities mean we are well positioned for the coming financial year."