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10 February 2017

Redmayne-Bentley rounds off successful year

With home-grown talent and recruitment from a variety of competitors, Redmayne-Bentley increased its number of investment managers from 87 to 106 in 2016, it announced today (10th February 2017).

In the quarter to 31st December 2016, the firm’s total funds under administration increased by 4.6 per cent to £5.98bn, bringing the increase for the full year to 24.9 per cent.

Over the year, discretionary and advisory managed funds under management increased by 27.8 per cent, whilst execution-only funds under administration with the firm rose by 19.6 per cent in 2016. Over the same period, the FTSE All-Share Index increased by 16.7 per cent.

Revenues in the core business for the same quarter increased, on a like-for-like basis, by 24.7 per cent to £6.88m. Investment management fee income increased by 17.7 per cent to £2.39m over the quarter, and dealing commissions rose by 28.2 per cent to £4.48m.

David Loudon, Managing Partner at the investment management and stockbroking firm, said: “In 2015 and early 2016, we were focussed on attracting new investment managers and new clients, and towards the end of the year this started to feed through into revenues.

“Much of our recent success has been in London and the South East, and, while we continue to see attractive opportunities in this region, other UK regions are likely to feature more strongly in 2017.

“The Leeds investment management team saw a number of new recruits in 2016, including investment managers Tom Dawson, formerly of Investec Wealth & Investment and Roy Kaitcer, a former Brewin Dolphin director. James Andrews joined the firm from KPMG as head of investment management last February. The team has recently added two new graduates, in addition to a number of support staff. Assets under management across head office rose to well over £500m during the year.”

Ends

Redmayne-Bentley rounds off successful year
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