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Investec reports profits of £229.4m for first half

Investec made a pre-tax operating profit of £229.4m during the first six months of the year, up 2.6 per cent from £223.6m in the first half of 2011.

The group saw net inflows of £2.1bn into its asset and wealth management business, which generated 39.3 per cent of the group’s operating profits.

The asset management business saw operating profit rise 2.5 per cent to £67.2m, compared to £65.6m last year, fuelled by net inflows of £1.5bn, with total funds under management reported at £62.4bn.

Investec’s wealth and investment arm saw operating profits rise by 4.9 per cent to £22.9m, compared with £21.8m for its first half last year. According to Investec, the business was boosted by higher average funds under management, with net inflows of £600m.

Chief executive Stephen Koseff says: “I am encouraged by our results and the progress we have made in the last six months, particularly compared to the second half of last year.

“We have a strong franchise which is well recognised in all our markets, our business is flexible and resilient and we have a good record of overcoming the challenges presented by the global economic environment.”


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Fund of funds sales more than halve to £2.2bn

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PFS conference: Peter Williams raises FSA independence concerns

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Pru sees 8% rise in UK sales

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EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.


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