Overview
- Assets under management (AuM) of US$52.6 billion at the year end (30 June 2015: US$58.9 billion).
- Recovery in markets and investor sentiment in H2.
- Consistent investment process delivering: significant improvement in one year investment performance and outperformance maintained over three and five years.
- 69% of AuM outperforming benchmarks over one year, 63% over three years and 73% over five years (30 June 2015: 23%, 60% and 81%, respectively).
- Net revenues declined 18% to £232.5 million, with 22% lower average AuM level.
- FX translation gain of £21.0 million and performance fees of £10.4 million.
- Flexible business model delivers effective control of operating costs, reduced by 7% to £92.3 million.
- Adjusted EBITDA of £130.9 million, business model continues to deliver a high margin of 62%.
- PBT declined by 8% to £167.5 million.
- Strong seed capital returns contributed £24.6 million of mark-to-market gains to PBT.
- Diluted EPS reduced by 7% to 18.1p.
- Proposed final dividend per share of 12.1p, giving 16.65p total dividend per share for the year.
