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F&C assets jump 13.5 per cent

F&C Asset Management has revealed a 13.5 per cent increase in its asset management in the third quarter of 2010.

The firm assets increased by £12.9bn to stand at £108.2bn at the end of September 2010 with £4.2bn of increased assets due to the completion of the acquisition of investment boutique Thames River Capital.

The firm also saw net inflows of £598m across its business in the third quarter, including a £78m net inflow into its onshore fund range.

F&C chief executive Alain Grisay says: “The Group’s assets under management benefited from a combination of positive market and currency movements, net inflows and the acquisition of Thames River during the third quarter.

“The completion of the Thames River acquisition adds new investment capabilities and enhanced distribution in our retail / wholesale business. This is a key component of our strategy of growing new revenues which also provides a catalyst for the Group to develop a more flexible cost base because of the additional scale it brings to our mutual funds business.”

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