11th May 2016 10:12
LONDON (Alliance News) - River & Mercantile Group PLC on Wednesday reported an increase in fee-earnings assets/notional under management over the course of the first three months of 2016.
Fee earning AUM/NUM increased to GBP23.58 billion at the end of March, from GBP22.47 billion three months earlier, the advisory and investment management business said in a statement.
The increase came amid net inflows of GBP800 million and a positive investment performance of GBP305 million.
"Again this quarter we have had positive net flows and investment performance in each of the divisions, despite challenging market conditions. We continue to deliver sustained investment returns and effective outcome led solutions to our clients, and remain strongly positioned for growth," Chief Executive Officer Mike Faulkner said in a statement.
Shares in River & Mercantile Group were untraded on Wednesday morning, having closed at 225.00 pence Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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