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Amvescap posts record profits

Fund manager Amvescap reports record breaking profits of £237m for the six months ending June 30.

This is an 85 per cent increase over the same period last year, and much stronger than was predicted.

Amvescap trades under the names AIM and Invesco. It has £258bn of funds under management.

It recently completed the £1.6bn purchase of Canadian fund manager Trimark Financial.

It had been rumoured to be interested in UK fund manager Perpetual, but these were denied by both parties.

Amvescap chairman and chief executive Charles Brady says: “Our company has reached record levels of revenues, operating profit and earnings per share in the second quarter and first half of 2000.”

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