Assets under management at 31 December were £100.1bn, down from £105.8bn, while group underlying pre-tax profit was up £2.3m to £47m, with the group reporting a profit of £2.6m after tax, compared to a £13.4m loss in 2010.
The firm said its £33.2m cost reduction programme was ahead of plan and remained on track to be "substantially achieved) by the end of this year.
Bramson said: "2011 was a significant year for F&C with the development of a new strategy which has been well received by clients, consultants and shareholders. Against a tough market drop, F&C had reassuring net inflows from third-party institutional clients during the year and investment performance remained competitive.
"In summary, the turnaround at F&C is gathering pace and we believe the business is well positioned for the future."
