UK - Mandate awards across Africa, Europe and the UK have seen Investec Asset Management's UK institutional business grow more than £650m over the six months ending September 30, 2004.
Reporting a profit of £88.7m, up 53% from the same period last year, Investec said the significant six month growth was partly the result of new mandates secured in fixed income and UK equities.
Recent mandates include a £90m UK fixed income mandate from Africa’s States of Guernsey Contingency Reserve Fund, a £140m UK fixed income brief from the pension scheme of European printing company Polestar Group and a £110m UK equity mandate from UK firm MGM Assurance.
Commenting on the performance, Hendrik du Toit, chief executive officer of Investec said: “We have worked hard to deliver and achieve our objectives of superior investment returns and excellent client service.
“These financial results give us the strength and the wherewithal to continue on our planned growth path.”
Investec is an international, specialist investment manager for institutional and individual investors worldwide with more than £22bn in managed assets as at September 30, 2004.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.