aum up 3pc in q2 riverandmercantile

In its first update since listing on the London Stock Exchange, River & Mercantile said it recorded a 3% increase in assets under management to £17.4bn in the second quarter this year.

aum up 3pc in q2 riverandmercantile
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Less than a month after its IPO on 26 June, company shares were trading at 224.22p per ordinary share on Wednesday morning, compared to the initial offer price at 183p per ordinary share. The company had been valued £150m on listing.
 
Investment performance stood at £58m while performance fees of £1.8m were taken in the second quarter.  
"Completing the IPO in June was a significant milestone for the Group, providing an enhanced platform for future growth opportunities,” CEO Mike Faulkner said. 
 
“We continue to focus on delivering strong and sustained investment  returns  for  our  clients  and  the  growth  of  the  business  to  generate  value  for  our shareholders.”
 
He added, “Our investment strategies have generally delivered targeted, outcome-orientated investment performance for our clients. The level of net sales and mandates in transition is a positive indication that the business has performed well and continues to be strongly positioned for growth."