Artemis Investment Management has posted a 31 per cent rise in profits for 2014, as net inflows and healthy market movements helped the firm’s assets under management move past £20bn.
The limited partnership said profits rose to £40.7m for the year to December 31, 2014 after a near-20 per cent rise in revenue. AUM rose 17% to £20.3bn during the period.
Financial rewards for the firm’s partners increased by 20 percent, in line with the revenue increase, as they took home £61.8m in total.
Staff costs rose by 15.6 per cent, with the investment firm handing over £13.8m over the course of the year.
The figures follow on from a 2013 in which the group saw profits rise 75 per cent to £31.3m.
Last year saw a significant expansion of Artemis’ fund range, after the group launched five portfolios for US equity manager Cormac Weldon and team.
Changes have continued this year with the announcement that senior partner Mark Tyndall will step back into a non-executive role at the end of 2015. Meanwhile UK equity manager Tim Steer is to retire from the fund house as of the same date, to be replaced by Standard Life Investments’ Ed Legget.
