Investec targets top five ranking as assets climb

Investec Asset Management has revealed it intends to break into the top five independent asset managers by assets within the next five years, after seeing strong inflows in the last year.

Assets at the group now stand at a record £61.5bn, following net inflows of £5.2bn in the year to end of March. Overall profits also rose 5% to a record £133.7m, while the UK OEIC range saw inflows of £724m, and David Aird, managing director of Investec's UK Client Group, said the aim for the UK asset management business is to break into the top five independent asset managers by 2017. "We are currently the 14th largest independent asset manager by assets, and we aim to get into the top five within the next 3-5 years," he said. Inflows were focused on the group's Cautious Managed, ...