investec am sees inflows in h1

Investec’s asset management division saw net inflows of £2.2bn in the first half to end of September, but total AUM still fell as market and currency volatility took their toll.

investec am sees inflows in h1


Total funds under management at the end of the period amounted to £53.1bn, down from £58.8bn at the start of the period (31 March), while operating profit for the division jumped 34.1% to £65.6m.

The wealth and investment arm also increased operating profit by a third to £16.3m in the H1 as it benefited from higher average funds under management and a full contribution from the acquisition of Rensburg Sheppards in June.

Net inflows of £800m were seen that part of the business, taking total funds under management for the wealth and investment arm to £26.3bn, down from £29.4bn at the end of March.

Investec said asset and wealth management now accounts for 39.1% of the group’s operating profit, up from 28.6% a year ago.

But Investment banking at the group has taken a turn for the worse and saw operating profit fall by 91% to £3.7m in the six months to 30 September, from £42.5m in the same period a year ago.

Meanwhile Investec’s private banking operations reported a loss of £4.9m.


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