River and Mercantile Group has reported an approximate 10 per cent increase in its fee earning assets under management to £19.1bn for the six months to December 31 2014.
The trading statement showed that its retail equity solutions business recorded net inflows of £118m in the six months to reach £955m, while its institutional business saw net outflows of £182m, dropping to £1.4bn assets under management.
As a result the company stated that for the six month period: “No performance fees are expected to be earned in Equity Solutions. The performance fee eligible assets under management in Equity Solutions at December 31 2014 was £300m compared to £521m at June 30 2014.
“The decrease is the result of redemptions in the Equity Solutions - Global Equity team and an institutional investor changing to a fixed fee arrangement.”
Within its fiduciary management business the company recorded net inflows of £548m for the six month period, bringing its fee earnings assets under management up to £7.2bn compared with £6.1bn in June 2014.
Mike Faulkner, chief executive of River and Mercantile, said: “The overall growth in our fee earning assets demonstrates a strong first half of the year, particularly in more volatile investment conditions and is evidence of the synergies from the merger.
“In the last six months markets have seen greater levels of volatility, against a backdrop of higher levels of political and economic uncertainty.”
