InvestmentsMay 23 2013

Investec sees 13.3% assets increase helped by fees

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ByEleanor Lawrie

Investec’s asset management arm saw assets under management rise to £69.8bn at March 31, up from £61.6bn a year earlier.

Adjusted operating profit increased 4.8 per cent to £140.2m, after a “strong growth in performance fees,” and net inflows of £4.1bn.

“The broader economic environment continues to be volatile with a strong rally in global equity markets partially negated by weak conditions on the ground in Europe and the UK,” the group said.

“The positioning of the group, as a specialist bank and asset manager with a focus on less capital intensive businesses, leaves us well placed should market conditions continue to improve.”