Aegon Asset Management (now Kames Capital) reported higher earnings of €15m in the third quarter due to higher performance fees and cost savings, according to the firm’s results documents.
It said operating expenses for the whole group declined 3% in the period to €130m, mainly due to lower expenses in the asset management arm and cost saving in Central and Eastern Europe.
A strong performance in its retail segment coupled with new mandate wins on the institutional side saw gross deposits in new markets top €2.5bn.
Unlike other asset management firms Aegon said low interest rates had more than offset the negative impact of lower equity markets in the quarter and revenue generating investments increased by 5% in the from Q2 levels to €44bn.
Meanwhile, Charles Stanley issued its first half results for the six months to 30 September, which saw funds under management grow 2% year-on-year to £13.7bn. This did represent a drop of 5.5% since the start of the period, however, when funds under management totalled £14.5bn.
Net new inflows to managed funds for the period hit £770m, up 10.7% year on year.Aegon Asset Management reported higher earnings of €15m in the third quarter due to higher performance fees and cost savings, according to the firm’s results documents.
Today Schroders reported net outflows in its retail arm of £2.7bn, which were offset by inflows of £2.8bn on its institutional side.
