7th Mar 2018 14:21
The company reported pretax profit of
River & Mercantile attributed the rise in pretax profit to growth in management fees and performance fees.
The asset manager's core indicator, fee earning assets under management and aggregate notional under management, rose by 5.0% to
River & Mercantile declared an interim dividend
"Our strategy of diversified growth across our divisions continues to develop as we expect for this phase in the cycle. We do foresee more difficult market conditions during the next couple of years, but even if these don't arise we would expect to see continued good demand for derivative and equity strategies, along with strong relative performance from Fiduciary Management and the effect of that on performance fees," said Chief Executive Officer Mike Faulkner.
"Our client-led approach is supporting business development and client retention across the whole of the business. The news of the departure of Philip Rodrigs emphasises that our culture remains very strong and focused on this approach. We are therefore confident that the business can continue delivering growth as it has done successfully since IPO," Faulkner added.
Shares in River & Mercantile were up 3.3% from
Related Shares:
RIV.L