Investec CEO: We are in the best shape since the mid-2000s

Investec has reported profits in its asset management business grew 3.6% over the year to the end of March 2015, as its CEO said the wider group is "in the best position it has been since the mid-2000s".

In its final results released this morning, the group said operating profit for asset management rose to £149m from £143.8m for the same period the previous year, boosted by net inflows and higher average funds under management. Total funds under management climbed to £77.5bn from £68bn, while the division saw net inflows of £3.1bn. Stephen Koseff, chief executive officer of Investec, said: "The group is in the best position it has been since the mid-2000s. We have delivered on all the strategic initiatives set out in 2013 and can now focus on growing our three core businesses: asset ...