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Ebullient Evolution

Thu, 29th Oct 2009 08:23

Investment management firm Evolution Group expects to beat full year profit forecasts this year on the back of strong trading across all of its divisions.Revenues from the Investment Banking arm in the second half of 2009 will be at least double those seen in the first half, reflecting the increased corporate activity.The company is responding to this increased activity by boosting the division's headcount by around 10% in the second half of the year.On the Private Client Investment Management side, profits continue to pile up, while funds under management hit a record level of £5bn at the end of September, up from £4.2bn at the end of June. Net fund inflows exceeded £100m in the third quarter.'Given the successful results to date from investments made over the last 12 months and our growing business pipeline, the group is highly confident that it can continue the momentum in profit growth into 2010 and beyond,' the company said.