30th Jan 2015 09:32
LONDON (Alliance News) - River and Mercantile Group PLC on Friday said its assets under management rose in the first half on the back of a boost in investment performance.
The investment manager said mandated assets under management rose 5% to GBP18.9 billion in the six months to the end of December, with fee-earning assets under management rising 10% to GBP19.1 billion.
Assets under management were driven higher by GBP572 million by investment performance, the company said, on the back of strong performances for its Total Investment Governance Solution in its Fiduciary Management function.
Net management fee margins for the company are in line with its expectations.
Net asset inflows in the half-year hit GBP729 million, with positive rebalancing flows in its Derivative Solutions business at GBP485 million.
"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. We have continued to deliver strong and sustained investment returns for our clients and remain strongly positioned for growth," said Chief Executive Officer Mike Faulkner.
Shares in River and Mercantile were down 1.2% to 217.00 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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