Investec Asset Management announced today that assets under management for its twentieth year in business had risen to a record £59 billion (R637 billion), supported by record net annual inflows of £7.4 billion (R82.6 billion) as it reported results for the financial year to 31 March 2011. Operating profit increased by 53% to £127 million (R1,417 million).
Performance was attributed to three factors. Firstly, investment performance continues to be competitive. Secondly, the Firm cited the stability and experience of its team, supported by a clear organisational culture and global business structure. Finally, flows were generated across Investec’s global distribution footprint and its balanced range of investment capabilities, with all six client groups worldwide delivering net inflows.
Chief Executive Officer Hendrik du Toit said,
“Since inception twenty years ago, our long-term focus has remained relentlessly unchanged: to consistently deliver good investment performance to our clients across our range of investment capabilities, to ensure appropriate alignment with the interests of our clients, to remain open to sensible innovation, and finally to generate original investment insights.
“We are positive about the opportunities available for our business in what continues to be a challenging market.”
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