Chris Woodhouse, group CEO said: “The war in Ukraine, high levels of inflation and rising borrowing costs have created a challenging backdrop this year, with both equity and bond markets down during the first six months of 2022."
Evelyn Partners’ assets under management dropped to £52.7bn for the first half of the year, from an all-time high of £57.7bn in 2021, according to the firm’s interim results.
The firm cited "the impact of market declines" as a reason for 8.7% drop in AUM. It also reported gross and net inflows of £2.7bn and £1.1bn respectively, which were up 12% as compared to H1 2021. "This growth is a testament to the strength of our proposition, the breadth and reach of our distribution, and the quality of our people," said Chris Woodhouse, group CEO. Tilney Smith & Williamson rebrands to Evelyn Partners The firm's operating income increased to £290.5m, up 5.3% from £275.9m in the first half of the previous year. However, it reported adjusted earnings before interest...
To continue reading this article...
Join Investment Week
- 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
