Ignis reports net inflows and rising profits
Net inflows total almost £1bn; operating profit up £1m to £19m.
Ignis Asset Management has reported net new inflows of £927m for the first six months of 2012, taking the company’s total assets under management to £73.6bn.
The firm attributed the increase to strong gross sales of the Ignis Absolute Return Government Bond, UK Property and Liquidity funds in particular.
The company also saw operating profits increase by £1m to £19m, in what it said have been “difficult trading conditions”.
In the first half of 2012, the firm’s investment vehicles continued to deliver strong investment performance, with 13 out of its 15 life company funds outperforming their respective benchmarks over the period, according to Lipper.
Ignis Asset Management chief executive Chris Samuel said: “Ignis has made considerable progress since we outlined a new strategy for the business in late 2009. The first six months of 2012 provide further evidence of this progress.
“A series of key initiatives were also satisfactorily progressed in the first half of 2012 including a strong first year of investment performance for the first of our absolute return offerings, the Ignis Absolute Return Government Bond fund, the continuing extension of our client base into Europe, the “lift out” and transfer of our back office operations to HSBC and our continued success in attracting new talent to the business.”