5th Nov 2019 11:28
(Correcting River & Mercantile's share price.)
(Alliance News) - River & Mercantile Group PLC on Monday said it is "well positioned" to continue its growth, following strong performance in the third quarter.
The asset management and investment firm said fee earnings assets under management increased in the three months to the end of September by 5% to GBP41.7 billion.
The company said its net sales ratio, which measures all client flows, was 3% of opening AUM and the investment return ratio added a further 2% of opening AUM.
River & Mercantile said it has seen strong client engagement across the business, with increased activity levels in Fiduciary Management, and strong pipeline across the Derivatives and Equities businesses.
"The combination of net sales and investment performance has generated growth in AUM of 5% in the quarter. This is a strong start to our total growth rate target of 12%," said Chief Executive James Barham.
"The group continues to have a positive outlook in the medium term on markets, which we believe are currently supported by a stable economic environment," said Barham. "Despite some challenging media headlines, we expect economic conditions to improve over the next 18 months."
River & Mercantile shares on Tuesday were trading 2.4% higher at 260.00 pence in London. On Monday, shares closed at 254.00p each.
By Evelina Grecenko; [email protected]
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