ignis strategic review reaps benefits

Ignis Asset Management reported net new business up 31% year-on-year to £1.7bn as AUM rose to £81.5bn.

ignis strategic review reaps benefits

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This led to level profits of £46m, the same as last year, despite challenging market conditions and significant investment in the business it said.

The firm said its achievements in the year were underpinned by strong investment performance across its client portfolios, with 73% of assets outperforming their respective benchmarks and peer groups over the financial year.

Last week it was announced the company would be making some redundancies as part of a strategic change to its business, which will see it focus on and investing in areas of core strength.

A spokesperson from the firm said there would be no fund managers or senior managers departing as a result of the review.

Chris Samuel, CEO at Ignis, said in the results statement today: "Ignis has made considerable progress since we outlined a new strategy for the business in late 2009. The 2011 financial year saw the successful launch of the Ignis Absolute Return Government Bond Fund and our Liability Driven Investment solution as well as a number of senior hires within our investment and distribution teams.

Mark Holden and Graham Ashby have joined as managers on the UK equity side, while Claude Chene has been brought in as head of global distribution.

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