Nucleus halves annual losses as assets top £3bn

Assets under administration in 2011 increased by £1bn to £3.2bn, with inflows up 22% to £1.4bn (2010: £1.2bn) and revenue up 73% to £9.7m (2010: £5.6m). Nucleus Financial Group chairman Paul Bradshaw said the wrap's losses, which fell 43% to £0.97m, compared to £1.7m in 2010, were due to investment and market unease. "The 2011 operating loss was in line with expectations, primarily reflecting significant further strategic investment in the business, but also the volatile capital markets," he said. "These results reflect another key year for Nucleus and the growing number of adviser...