Assets under management fell during the year from $77.4bn (£48bn) to $75bn (£46.4bn).
Meanwhile pre-tax profit dropped 34% to £170.3m in the year to June 30 2014. This was largely caused by the impact of sterling’s strength on its results, the group said.
Net revenue for the year stood at £262.9m, which is 26% lower than in the prior year. The group attributed this to the effect of the Sterling’s strength against the US dollar, as well as its effect on the translation of US dollar-denominated revenues and non-Sterling assets and liabilities.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was £174.7m. This is down 31% from EBITDA last year, which was £252.2m.
Looking ahead, CEO Mark Coombs warned that global imbalances would become more apparent as developed markets prepare to wean themselves off monetary policy stimulus.
However, he was positive on the growth outlook for emerging markets.
“Emerging nations are generally in good health and in aggregate are expected to grow faster than the developed world, thereby continuing to increase their importance to the global economy and exposing underweight allocations.”
