Investment manager Premier Miton has reported £428m of net outflows for the quarter ending 30 September, a sharp reduction from the previous quarter.
The quarter’s net outflows were almost half the £0.8bn reported for the previous quarter ended 30 June.
However, they were still markedly higher than those seen the previous year.
In 2025 Premier Miton reported net outflows of £618m for the year.
The investment manager has struggled with outflows since its creation via a merger in 2019.
Assets under management also continued to fall, with assets falling 21% year on year to £8.1bn as at 30 September (30 September 2025: £10.3bn).
The investment manager has responded to the continuing outflows by taking steps to cut costs and refocusing its investment capabilities.
Mike O’Shea, CEO of Premier Miton, said: “Following a review over the summer, we have identified a further £1.5m of annualised cost savings which are expected to be delivered over the next 12 months with an estimated one-off cost of £0.3m. This will ensure that our operating model is appropriate for the current size of the business while retaining the ability to scale efficiently over time.”
Fellow fund manager Jupiter also released its financial results today, showing a continued improvement to net flows.
Jupiter generated positive net flows of £0.7bn in the third quarter, bringing year-to-date net flows to £1.4bn.
The retail, wholesale and investment trust channel saw net inflows of £1bn for the quarter, with year-to-date net flows of £2.5bn, marking the fifth consecutive quarter of net inflows for the channel. This marks an improvement of 20% to net flows year-on-year (Q3 2025: £0.8bn)
These flows, alongside strong market returns, contributed to a 3% increase in assets under management over the quarter to a record £75.9bn.
The net inflows were partially offset by net outflows from the CCLA section of the fund manager, which saw £0.5bn in net outflows during the quarter. Jupiter acquired CCLA Investment Management in 2025, which the fund manager continues to integrate.
Following a period of weaker investment performance, Jupiter said the CCLA investment team has continued to make changes to the investment process and strengthen collaboration across the wider group.
The fund manager launched a large-scale cost-reduction programme in 2025.
In 2025 Jupiter reduced non-compensation costs by 10%, including a reduction in headcount to 442 employees (2024: 492 employees). It expects the cost reduction plan to deliver £15m of annualised savings by the end of this year.
One of the ways Jupiter is managing costs if through the adoption of AI tools. In 2025 Jupiter estimates that its tools, including ChatGPT, saved users an estimated 42 minutes per day.