Investec has reported net inflows of £4.9bn for its asset management and wealth and investment business, as part of its yearly results announced today. Profit before tax rose significantly in Investec’s wealth and investment business too, up 30.9 per cent to reach £50.7m from £38.7m the previous year.
The wealth and investment business saw net inflows of £800m and total funds under management also amounted to £40.4bn, up from £34.8bn in 2012.
As part of the group’s asset management business, total funds under management rose from £61.6bn in 2012 to £69.8bn for 2013. Net inflows totalled £4.1bn. Asset management also increased profit before tax by 4.8 per cent to £140.2m, up from £133.7m in 2012.
Source: Fundweb. Read full article here.