Rensburg goes out on upbeat note

Fund manager Rensburg Sheppards boosted funds under management to £12.9bn from £10bn in the year to March.The group, which has agreed a takeover from major shareholder Investec, saw net inflows of new money of 4.9%, up from 1.9% in the previous year. Profits over the year fell to £27m from £30.2m. "In an operating environment that has remained challenging, it is pleasing to report a creditable financial performance. In particular, the underlying rate of net organic growth in funds under management of near 5% was a significant improvement and we remain focussed on growing our client base and, from this, our funds under management and revenue," chief executive Steve Elliot said.