F&C Asset Management has posted a good fourth quarter performance across most asset categories, saying revenue yields on inflows continue to exceed those on outflows during the three month period.
Group assets under management (AUM) at the end of the year totalled £95.2bn, compared to £96.8bn at September 30th.
Consumer and instituational AUM was £36.8bn, compared to £36.7bn three months earlier.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Gross third-party institutional inflows totalled £0.8bn, taking the total for the year to £2.9 billion, or 12.7% at an annualised rate.
Richard Wilson, Chief Executive, said: "Performance in the quarter was good in most asset categories and revenue yields on inflows continue to exceed those on outflows. We look forward to continuing progress in executing our Third-Party Institutional and Consumer growth strategies."
The group continued: "Gross outflows from our Third-Party Institutional business of £1.7bn for the quarter were primarily attributable to cash management and government bond mandates of £1.3bn with an associated revenue yield of approximately 3bps. The majority of the remaining outflows resulted from £0.2bn of property asset realisations prior to year end.
"Continuing the trend reported earlier in the year, our Wholesale business experienced material net outflows of £0.3bn during the quarter with the most significant outflows from the Thames River Global Credit funds following a period of weak investment performance.
"Performance in the Consumer and Institutional business generated AUM growth of £1.0bn, or 2.8% (11.1% annualised) in the quarter, reflecting robust performance in all business areas other than Wholesale, where returns for the business as a whole were slightly positive."
The share price rose 0.28% to 107.30p by 08:59.
NR
-
Can I shield my ISAs from inheritance tax?Many investors and savers will be wondering if there’s anything they can do to protect their ISAs from inheritance tax, especially as pensions will become liable for the levy from April 2027. We reveal the options available to ISA customers
-
What is the average salary by age – and how do you compare?Are you making more than your peers? We look at the average salary by age to see how much the typical Brit earns at different stages of their life
