GLOBAL - Fortis Investments saw assets under management increase 7.4% in the first quarter to e112.7bn.
In addition, net profit rose to e25m - up 68% compared to the same period last year.
Announcing the Q1 results, Fortis said institutional demand increased sharply in all client segments and geographies, due to sustained strong investment performance and value-adding client service.
During the quarter Fortis Haitong, the company’s domestic joint venture with Haitong Securities in China successfully moved into the new enterprise annuity market for the first time.
The firm said its core markets, Benelux and France, continued to perform strongly. Successful development and enhancement of activities in a number of new countries, including Japan, Germany, Italy and Spain, generated diversification of revenue among a wider selection of profitable growth markets.
Emerging market equities, including China, Latin America and Turkey also performed well during this period.
CEO of Fortis Richard Wohanka said: “The company is constantly looking at ways to further develop our business and see strong positive growth in our established geographies, supported by our plans to expand into additional selected emerging markets in the near-term.”
In light of increased demand for long-short products, the company launched two new hedge funds, one in Japan and another in the US, during Q1.
By Angele Spiteri Paris
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