Exeter in talks to expand investment range

Exeter is in talks with other investment groups to acquire funds as it looks to diversify its business model. The fund manager disclosed the policy as it announced an 18.4% fall in pre-tax profits for the six months to 31 March 2002. It had already signalled its interest in February, however, with the purchase of the Duncan Lawrie Smaller Companies unit trust, now rebranded Exeter. Exeter has blamed the declined in the split-cap sector for the fall in profits. Barring unforeseen circumstances, the board of Exeter announced that the pre-tax profits for the six months are likely to be ...