Investec wealth & investment unit’s has posted an operating profit of £38m for the six months ended 30 September 2014, up 23.3% rise compared to £30.8m a year earlier driven by higher average funds under management, net inflows of £1.5bn and improved operating margins.
The division’s total funds under management accounted to £43.7bn compared to £41.5bn as of 31 March 2014.
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The asset management business of Investec has reported operating profit of £76.7m for the first six months ended 30 September 2014, an increase of 6.6% from £71.9m in the previous year.
For the first six months of 2014, total funds under management at the asset management division increased 5% to £71.7bn from £68bn as of 31 March 2014.
Also, the asset management units’ operating margin has increased to 35.7%.
Overall, the bank’s operating profit for the six months ended 30 September 2014 increased 8.6% to £240.8m from £221.7m a year ago.
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By GlobalDataStephen Koseff, CEO of Investec, said: "The investments we have made in the Asset Management and Wealth & Investment businesses are supporting solid net inflows. The performances in our South African bank and the corporate and institutional bank in the UK demonstrate the strength of our franchise."
