Ignis Asset Management is preparing to expand its product range as it reports profits for the first half of the year were unchanged from H1 2012.
The group said it plans to launch a hedge fund version of its Absolute Return Government Bond fund, as well as an Absolute Return Emerging Market Debt fund later this year. In its results covering the six months to 30 June, the firm posted operating profit of £19m, unchanged from the same period last year. Ignis also generated £900m of net third party asset inflows, but total AUM fell to £66.9bn compared to £68.3bn the previous year. Ignis said this was due to the natural run-off of Phoenix Group closed life insurance business. Meanwhile, Ignis Asset Management’s parent company Pho...
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