Investec shares fall as banking arm weighs on wealth and AM successes

Shares in Investec were down sharply today after the company said earnings could fall by as much as 10%, amid a tough time for its specialist banking arm in the UK.

The group - delivering a trading update before its close period - said it has seen positive inflows across both its wealth and asset management divisions, with net inflows of £1.2bn into asset management and £300m into its wealth arm. It said investment performance at the asset management business has been "solid" despite volatile financial markets. It added the wealth division has also outperformed the previous year, but shares fell over 4% today after it conceded its banking arm is lagging the previous year's performance, with half year results likely to come in lower than the previ...