R&M sees 17% boost to wholesale business despite drop in fees

Lower advisory and performance fees

River & Mercantile has seen a drop in advisory and performance fees in the last six months of 2015, but its wholesale business grew by 17%.

In its interim review for the six months ending 31 December 2015, the firm reported it has successfully raised another £20m into its UK Micro Cap trust during the period, helping drive wholesale AUM to £1.3bn. Net inflows into the business during the six months amounted to £1.5bn, which included two significant structured equity mandates and the first global equity mandate win in Australia. However, the period saw advisory fees drop by 28% compared to a year ago, to stand at £4.3m. Performance fees also fell from £3.1m to £1.2m compared to the previous year as a result of lower invest...