Rensburg holds dividend despite funds fall

Fund manager Rensburg Sheppards held its dividend last year despite assets under management falling by more than a fifth.The group's total funds under management as at 31 March 2009 fell 22.7% to £10.01bn from £12.95bn. Profits for the year fell to £30.5m from £31.2m. Revenues fell to £119m from £133m."In a difficult market I believe these results are a creditable reflection of the fundamental strength of the Rensburg Sheppards' business model and of the quality of service we provide our clients," chief executive Steve Elliot said.The implied rate of net organic growth in funds under management achieved for the year was 1.4%, he added.The dividend for the year is unchanged at 25.5p.