GLOBAL - Fortis Investments increased its assets under management by 6% to e111bn in the first half of 2006, with e7.1bn in net asset inflows attributed to product performance and innovation.
The firm’s first-half net profit was e46m, 85% ahead of the same period in 2005.
Richard Wohanka, chief executive officer of Fortis Investments, said there had been an appetite for absolute return products over the period.
Fortis’s Absolute Return Balanced, Absolute Return Growth and Absolute Return Stability funds all received ‘A’ ratings from Standard & Poor’s.
The firm said the launch of its Haitong Enhanced Return Fund, based on the absolute return concept and the fifth fund to be launched by the company’s Chinese joint venture Fortis Haitong, illustrated its commitment to emerging markets.
By Lisa Haines
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
Alan Pickering says politicians should have the freedom to redefine what is meant by 'absolute'