GLOBAL - Fortis Investments increased its assets under management by €16bn, or 15%, over the course of 2006 to end at €121bn.
The asset manager saw assets increase by €5bn in the fourth quarter alone, but was unable to match the overall 21% increase achieved in 2005.
The strong performance translated into a 64% increase in net profit after tax to €87m for the year.
Underlying net fee revenues rose 29% to €332m.
Fortis said it had also achieved a “significant increase” in market share across its key home markets of Belgium, France, the Netherlands and Luxembourg.
The firm added it had made strong progress in new divisions in Italy, Germany and Spain.
In other news, Partners Group enjoyed a bumper year in 2006, with total AuM increasing CHF6.4bn, or 60%, to end at CHF 17.3bn.
“The growth represents CHF 4.8bn in private equity - including CHF 400m listed private equity - CHF500m in private debt, CHF800m in hedge funds and CHF300m from our wealth management practice,” the firm said.
Adjusted net revenues totalled CHF201m for the year, almost doubling the amount of CHF 110m achieved in 2005, while adjusted net profit for the year amounted to CHF141m compared to CHF66m in 2005, an increase of 113%.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.