AuMs Double at Absolute Capital Management

Stephen Harris

12 March 2007

Organic assets under management growth was 91 per cent during 2006 at AIM-listed absolute return specialist Absolute Capital Management. The year end total of $1.55 billion has been augmented by the post year-end acquisition of Argo and further organic growth has increased AuMs to $2.64 billion. Pre-tax profit increased by 76 per cent to €27.6 million (2005: €15.7 million) and turnover increased by 72 per cent to €52.5 million (2005: €30.5 million). Combined management and performance fee income increased by 69 per cent to €49.4 million (2005: €29.3 million) and operating profit margin was 50.9 per cent.