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Ignis Profits In Year Of Change
Sally Ling
25 March 2013
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.