Investec’s wealth & investment arm has posted an operating profit of £78.8m for the year ended 31 March 2015, up 19.2% compared to £66.1m a year earlier, driven by higher average funds under management, net inflows of £2.7bn and improved operating margins.
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The unit’s total funds under management were £46.1bn, a 14.96% rise from £40.1bn a year ago.
The asset management division of Investec registered an operating profit of £149m, an increase of 3.6% from £143.8m in 2014, driven by higher average funds under management and net inflows of £3.1bn.
Total funds under management for the unit increased 13.97% to £77.5bn from £68bn a year ago.
Further, the asset management unit’s operating margin stood at 34.2%.
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By GlobalDataOverall, the group’s operating profit rose 15% to £580.7m as against operating profit of £504.9m posted in the prior year.
Investec CEO Stephen Koseff said: "The group is in the best position it has been since the mid-2000s. We have delivered on all the strategic initiatives set out in 2013 and can now focus on growing our three core businesses, Asset Management, Wealth & Investment and Specialist Banking."
