AssetCo delivers pre-tax loss of £2.6m following acquisition spree

'In line with expectations'

AssetCo has reported a £2.6m pre-tax loss following a spur of acquisitions over the course of 2021, according to the half-year results released today (15 June), in a year chair Martin Gilbert described as “transformational”.

Chair Martin Gilbert said the loss "was in line with expectations" as they continue to build the business. The firm reported profits of £22.3m in 2021, which principally arose from the final payment received after winning a litigation claim against Grant Thorton. The group purchased equity stakes in four businesses during 2021 - Rize ETF, Parmenion, Saracen Fund Managers and River and Mercantile - followed by the agreement with Revera Asset Management to acquire its entire issued share capital in February 2022.  AssetCo said "significant progress" has already been made in terms of rig...