Bedlam Asset Management announced funds under management have increased by 46 per cent.

UK-based Bedlam Asset Management, an equity manager concentrating solely on absolute returns from unconstrained stock picking, has announced a first dividend as funds under management have increased by 46 per cent. Nigel Johnson-Hill, chairman, said that he attached great importance to this pay-out as proof of the company’s financial health. Net profit was £0.85 million ($1.66 million) against £1.4 million in 2005. Funds under management of £212 million were up 46 per cent up over the year. Headcount at the asset manager was up by 40 per cent over the year to handle the growth of segregated accounts.