Over £1bn in discretionary FUM added during the half year driving double digit increases in profit and earnings per share
o Organic growth (net new discretionary business) of £332m or 4.0% over the half year excluding market growth
o Total growth of over £1.5bn year on year includes benefit of market growth
Double digit growth in all three investment divisions - Investment Management, Funds and Brooks Macdonald International ('BMI')
o In Funds we launched two new multi-asset funds for specific third party mandates and the Defensive Capital Fund is now in excess of £300m
Two further strategic alliances completed over the period, including our first internationally in the UAE
Interim dividend increased by 25% to 15p (2015: 12p) reflecting the Board's continued confidence in the Group's progress and our strong balance sheet
Chris Knight, Chairman, commented:
"It's been another strong six months for the Group. Growth in discretionary funds under management drove increases in in profit and earnings per share.
"Chris Macdonald will retire as Chief Executive on 10th April. The principal architect of the Group's success, he has led the business with vigour, with determination and with vision for twenty-five years and all our stakeholders have reason to thank him. Although he will no longer be an executive director he will remain on the Board as Deputy Chairman, in which role I know that he will continue to provide help and encouragement to the business.
"As previously announced, Caroline Connellan will join the business in April and succeed Chris Macdonald as Chief Executive. Caroline brings considerable experience to the business and we are confident that under her leadership the Group will continue to grow and prosper."