Investec CEO: We are in the best shape since the mid-2000s

Natalie Kenway
clock

Investec has reported profits in its asset management business grew 3.6% over the year to the end of March 2015, as its CEO said the wider group is "in the best position it has been since the mid-2000s".

In its final results released this morning, the group said operating profit for asset management rose to £149m from £143.8m for the same period the previous year, boosted by net inflows and higher average funds under management. Total funds under management climbed to £77.5bn from £68bn, while the division saw net inflows of £3.1bn. Stephen Koseff, chief executive officer of Investec, said: "The group is in the best position it has been since the mid-2000s. We have delivered on all the strategic initiatives set out in 2013 and can now focus on growing our three core businesses: asset ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read