F&C Asset Management has reported a £100m rise in AUM in Q1 following net inflows, positive market movements and an appreciation of the euro against sterling.
AUM grew from £105.8bn to £106.1bn at the end of March 2011, boosted by inflows of £195m - gross sales of open-ended funds (onshore and offshore) were £1.5bn compared to £500m in the first quarter of 2010. Alain Grisay, chief executive of F&C, said: "The first quarter saw a challenging backdrop for investors with upheaval across the Middle East and North Africa, rising oil prices, the natural disaster in Japan and the ongoing European sovereign debt crisis. "Against this backdrop F&C posted another quarter of net inflows, with an improving revenue mix. While the board review of strate...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
