Investec Asset Management, part of UK and South Africa-listed Investec, said that its assets under management hit a record £69.8 million (around $106 million), as it reported results for the financial year to 31 March 2013.

The firm said that the surge in AuM was supported by net inflows of £4.1 billion (around $6.5 billion), driven by a globally diversified client base with the Americas, Africa and Europe client groups, contributing to the growth of the past year.

Meanwhile, revenues at the firm exceeded £400 million for the first time, having grown by 8 per cent compared to last year, and reaching £407 million.

The three months to 31 March 2013 was the 18th consecutive quarter of positive net inflows.

In other recent developments, earlier in the year Investec Asset Management confirmed that it has sold a 15 per cent stake in its asset management division to a group of employees, in a £180 million  deal.