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7IM sees assets grow to £11bn

7IM also reported a 3 per cent increase in pre-tax profit for the year

Seven Investment Management’s assets under management grew by 8 per cent to £10.9bn in the year ended 31 December 2016.

The company’s profit before tax also grew from £18.1m in 2015 to £18.6m last year; a 3 per cent increase.

7IM platform assets were up by 24 per cent during 2016 to £3.9bn.

Seven Investment Management chief executive Tom Sheridan says assets under management for the discretionary fund management service also grew but its exit from the institutional market saw a loss of £340m in assets.

Sheridan says: “15 years since our launch, we remain true to our original premise of managing money, and risk, to ‘expected returns’ over the medium to long term.  It’s a strategy which we have delivered on, with asset allocation behind everything we do, and our ability to manage currency risk also proving helpful.”

He adds: “Our multi-asset, global approach, blending both active and passive strategies, continues to help us manage the risk–reward trade off at a time when geopolitical tensions make a ‘risk off’ strategy, for us, currently more attractive.”

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