Key points
Funds under management (FUM)1 of $95.9 billion (31 December 2016: $80.9 billion)
o Net inflows of $8.2 billion (H1 2016: net inflows $1.0 billion)
o Investment movement of $3.8 billion (H1 2016: negative $2.2 billion)
o Aalto acquisition added $1.8 billion
o FX translation and other movements of $1.2 billion (H1 2016: negative $1.1 billion)
Run rate net management fees up 6% to $720 million ($677 million at 31 December 2016)
7 basis point reduction in the Group run rate net management fee margin compared to 31 December 2016 reflecting strong asset growth in lower margin strategies driving material mix effects at the Group level and in particular two large FRM institutional flows
Adjusted profit before tax (PBT) of $145 million (H1 2016: $98 million), up 48%:
o Adjusted net management fee PBT of $94 million (H1 2016: $90 million)
o Adjusted net performance fee PBT of $51 million (H1 2016: $8 million)
Statutory PBT of $76 million (H1 2016: $55 million); reflecting acquired intangibles amortisation ($42 million), charges relating to the movement in the contingent consideration liability ($23 million) and restructuring costs ($4 million)
Statutory diluted EPS of 3.8 cents (H1 2016: 2.9 cents); Adjusted diluted EPS of 7.5 cents (H1 2016: 4.9 cents); adjusted diluted management fee EPS of 5.0 cents (H1 2016: 4.5 cents)
Completed around $93 million of the $100m share repurchase programme announced on 14 October 2016 equating to 56.2 million shares
Interim dividend of 5.0 cents per share (H1 2016: 4.5 cents per share), up 11%
