7IM AUM climbed 30% last year

Seven Investment Management saw its assets under management increase by 30% in 2015, the firm reported.

7IM AUM climbed 30% last year

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The company saw AUM increase from £7.7bn to £10.1bn, and experienced more than £2.7bn gross and £1.6bn net flows of new assets in the year ended 31 December 2015.

The business also increased its profit before partners’ remuneration from £14.5m to £18.1m, a 25% increase. 7IM launched four Equity Value Funds during 2015 and by the end of the year the assets in these funds stood at £331m.  

In addition, Threadneedle’s multi-manager fund range was incorporated into 7IM funds, totalling £382m. 

7IM was acquired by Caledonia Investments in September last year. Caledonia Thames Holdings Limited was formed on 7 September 2015, the date of the acquisition.

Exclusion of one-off costs relating to the acquisition of £6.4m would result in a group profit before tax of £4.4m.

Tom Sheridan, chief executive officer of 7IM, said:  “It has been a great benefit for us to have the support and input from our new shareholder Caledonia in building our innovations for investors in the UK.”

“We are very happy with the progress that Tom and the 7IM team have made in the initial period of our investment, which is reflected in the strong results for the year ended 31 December 2015,” said Duncan Johnson, head of unquoted investments at Caledonia Investments.

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