Investec’s wealth and investment business grew its funds under management by 9.9% during the five months to the end of August.
Assets stood at £63.8bn on 31 August, up from £58bn on 31 March which Investec said was due to net inflows of £1.4bn, favourable market movements and investment performance.
UK and other assets accounted for £45.4bn of the total assets, while its South African operation managed £18.3bn and its specialist bank £380m.
Investec has forecasted adjusted operating profit for the first half of 2022 to be ahead of the same period in 2021 when it was £28.9m.
On a company-wide basis, it expects adjusted operating profit before tax for the six months to the end of September to fall between £265m and £293m. That is between 86% and 106% ahead of H1 2021’s figure of £142.5m.
For the UK business it predicts adjusted operating profit to be at least 125% higher than the prior period and for the Southern African business to be at least 50% ahead.
Earlier this month, Investec Wealth & Investment made three appointments to its intermediary sales team to boost its regional growth.
