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12 Jan 2015 07:00
12 January 2015
AFH FINANCIAL GROUP PLC
("AFH" or the "Company")
Funds Under Management exceeds £1 billion
The Board of AFH, a leading financial planning led investment management firm, is pleased to announce an update on its funds under management ("FUM") as at 31 December 2014. Since the Company's trading update dated 4 November 2014, the Company's FUM have exceeded £1 billion.
Over the past 12 months, the Company has completed seven acquisitions which have brought in an estimated £135 million FUM to AFH and in excess of £700,000 of recurring income. Since the Company listed on AIM in June 2014, in excess of £100 million of FUM have been added through the acquisitions of Knight O'Byrne, Finlay Gow & Company and Hindsight Financial Services. The total adviser count stands at 137.
Alan Hudson, Chief Executive of AFH, said: "We are pleased to have broken through the £1 billion FUM figure at the start of 2015 - a significant milestone for the Company's development and in the journey towards AFH becoming one of the UK's leading IFAs.
"We remain well positioned to take advantage of IFA market consolidation and, at the start of 2015, the Company's acquisition pipeline is strong and focused on both small and larger IFAs looking to benefit from being part of a wider listed group. AFH remains well funded to pursue opportunities, particularly following the successful first closing of the loan note issue as previously announced, and we look forward to keeping shareholders updated."
Enquiries:
AFH Financial Group PLC 01527 577 775
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer
www.afhfinancialgroup.com
Allenby Capital Limited 020 3328 5656
(Nominated Adviser and Broker)
Nick Naylor
Chris Crawford
Nick Athanas
Yellow Jersey PR Limited 07768 537 739
Dominic Barretto
Kelsey Traynor
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