Premier Miton Group taken another hit in the latest quarter, adding £335m in outflows to its year-to-date total.

For the period from 31 March to 30 June the company's AuM shrank from £12.8bn to £11.3bn.

This period in markets was marred by geopolitical volatility, mainly caused by the continuing war in Ukraine, and reworked central bank policies trying to get some control over inflation.

Mike O'Shea, chief executive officer of Premier Miton, cited these reasons for the group's lacklustre few months but added that it was UK equities which were the main source the outflows.

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This portion of the market has been consistently unpopular with investors generally, not just Premier Miton's UK-focused funds.

Calastone's Fund Flow Index for June reported that UK equities had its thirteenth rolling month of outflows, with £1.14bn exiting UK focused funds in June.

For Premier Miton, these outflows were partially offset by inflows into its fixed income and multi-asset options.

Net outflows are approaching £1bn for the year so far, with the third quarter bringing the year-to-date total to £736m. 

Commenting on performance during the period, O'Shea said: "Our investment performance remains relatively strong in these turbulent times, with 85% of our funds in the first or second quartile of their respective sectors since manager inception. Shorter-term numbers are also encouraging with 80% of funds above median over three years, representing 85% of AuM.

"The strength of our business platform, the quality and performance of our investment teams and our clear proposition built on active management mean that, despite the challenging economic conditions, we remain well placed for the future."