Investec has reported funds under management fell 7.6% in the six months to the end of September, which it blamed on falls in global markets, and announced a £350m share buyback programme.
A share purchase and share buyback programme of up to £350m will be executed over the next 18 months. This is in conjunction with the initial share purchase programme previously announced. Meanwhile, funds under management (FUM) decreased to £59bn during the six months to the end of September, compared to £63.8bn at the end of March. Net inflows were £202m, with £464m in discretionary FUM inflows partly offset by £261m net outflows in non-discretionary funds. Invesco reshuffles distribution and client solutions heads in raft of promotions Revenue grew 18.9% during the period. In...
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