Results Round Up
Fund manager RAB Capital's first half profits will be significantly lower than last year after a sharp fall in funds under management in 2008.
"Challenging conditions have persisted over the first four months of 2008 and as at 1 May 2008 our assets under management stood at $6.34bn. This represents a decrease of approximately 12% since the end of 2007 and a 2% increase over the past twelve months," RAB said.
The decline in 2008 reflects, in broadly equal measure, negative fund performance and net fund redemptions, it added.
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Fund manager Aberdeen Asset Management said half year pre-tax profit before exceptional items and amortisation of intangibles rose to £47.3m from £43.6m.
In the six months to 31 March sales rose to £201.5m from £162.5m the year before. Group assets under management increased 12.6% to £107.3bn since start of year.
