Investec Asset Management posts record AUM

Investec Asset Management announced today that assets under management had risen to a record £46bn (R515bn) as it reported results for the financial year to end 31 March 2010. Over the twelve months, earnings increased by 26% year-on-year to £83.4m.

The increase in assets under management for this period is as a result of a record £4.7bn (R57.9bn) of net inflows, approximately £1bn of this having been generated in Q1 10. These flows have been generated from each of the firm’s distribution channels and across a broad set of investment capabilities, including Global Equities, Commodities, and Fixed Income. Flows have been supported by strong investment performance with over 95 per cent of institutional strategies outperforming their benchmark since inception.

Chief Executive Officer Hendrik du Toit said, ‘Investec Asset Management’s long term strategy remains unchanged and we continue to be totally focussed on managing our clients’ money to the highest standard possible. Over the past 19 years we have grown from start up to one of the 100 largest asset managers in the world. We now have a wide global distribution footprint and seven distinct and scalable investment capabilities.

‘We see the coming financial year as one where we reinforce this momentum, consolidating our position as an independent pure play asset manager. Our stable and experienced team is ready to enter the next financial year positioned firmly on the front foot.’