Glasgow-headquartered Ignis Asset Management reports that it made an International Financial Reporting Standards operating profit of £43 million (around $65 million) for 2012. This was slightly down on 2011 (£46 million) due largely to the discontinuation of life company administration services and the restructuring of former joint ventures.

Ignis attracted £1.6 billion of net new assets in 2012, with its liquidity, absolute return and real estate funds “at the forefront” of gross and net sales during the period. In addition, it was selected to manage a range of mandates on behalf of Guardian Assurance. As a result of this, £3.1 billion of assets transferred to Ignis in the fourth quarter of 2012 and a further £1.6 billion is due to transfer in 2013. Total direct assets under management at 31 December 2012 stood at £68.3 billion.

“With further absolute return fund launches planned in the summer and the build out of our institutional business, the company is well placed to capitalise on its achievements in 2012,” Chris Samuel, Ignis chief executive, said in a statement.