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Ignis reports first half profits of £19m

Ignis Asset Management has reported an operating profit of £19m for the first half of 2012.

The figure is up £1m on the £18m operating profit in the first half of 2011 while the group has also reported net new assets of £927m in the six months to 30 June, 2012, driven by sales of its Absolute Return Government bond, UK Property fund and liquidity funds.

Total assets under management did fall slightly from £74.1bn at 31 December, 2011 to 30 June, 2012.

Ignis chief executive officer Chris Samuel says: “Ignis has made considerable progress since we outlined a new strategy for the business in late 2009. The first six months of 2012 provide further evidence of this progress. Investment performance, with 84 per cent of our assets under management beating benchmarks or peer groups, was pleasing and net sales of £927 million, notwithstanding difficult market conditions, was encouraging.

“With a strengthened team in place and with the progress the business has made in the first half of 2012, Ignis is well positioned to pursue its current plans for development – to further strengthen investment performance and client service, deliver new and compelling product and to build the business in each of our chosen channels.”

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