LONDON (Alliance News) - River and Mercantile Group PLC on Friday said its fee earnings assets/notional under management grew by 2% to GBP21.5 billion over the three months to September 30, as it recorded net inflows of GBP592.0 million and only a small hit from investment performance.
The advisory and investment management business said investment performance reduced assets under management by less than 1%, equivalent to GBP133.0 million.
Fiduciary management assets fell only 0.3% in the period, which according to the company demonstrates its ability to defend and protect client assets in volatile markets.
Meanwhile, the company said that following the end of September it was appointed to a GBP1.0 billion structured equity options mandate by a large UK defined benefit pension scheme. The mandate was designed and executed throughout October.
Shares in River & Mercantile were up 0.7% at 254.66 pence on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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