Assets were up for the 3% in the first half of 2011 with discretionary assets accounting for the lion’s share (£110m) of £126m net organic inflows. A further £40m transferred into discretionary services internally, representing a total increase in discretionary assets of 16% from June 2010.
Profits rose 18% while revenues were up 22% in aggregate in the first half of the year. 8% of this increase came from core activities and the rest is accredited to the impact of two recent acquisitions – Corazon Capital Group and Andersen-Charnley.
Neil Darke, head of CSWM, outlined the firm’s goal of achieving £10bn assets under management by end of 2012.
He added: “Following the rebrand and integration of the two businesses we acquired in 2010 the inflows are very satisfying, particularly across our discretionary services. Of particular note was our first significant public sector mandate win where our rigorous institutional-quality investment process was endorsed during a rigorous selection process.”
