A new segregated mandate led to net inflows within external debt, while corporate debt and blended debt funds also saw inflows.
Meanwhile, equities saw assets under management fall by 20% to $6.2bn and multi-strategy mandates saw outflows of 13.8% down to $5.6bn.
Performance fees for the year overall are estimated to be £25m, almost entirely earned in the first half and primarily from investment performance from funds with an August 2011 year end.
Killik & Co said in its daily note that performance fees were below consensus expectations and equivalent to a 70% decline year-on-year. It added that the long-term target of net inflows for equities and multi-strategy were $1.5bn to $2.5bn a quarter – a target the group is currently falling well short of.
