PMI

Premier Miton Group PLC

Financial Services First-pass screen £60m

350/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 35

Valuation 25% 35

Downside protection 15% 60

First-pass take

Active UK fund manager with net outflows £618m, margin compression (19.7%→18.6%), and dividend at 109% of adjusted EPS. Trading below NAV (£102m cap vs £112.5m equity). Faces structural headwinds from passive investing; zero AI exposure.

Flags

passive-headwindsnet-outflowsdividend-uncoveredtrading-below-navuk-exposeddeclining-margins