Neptune operating profits rise despite fall in AUM

Pre-tax profits top £1m

Neptune Investment Management saw its operating profits rise in 2017 as the firm cut costs however, the boutique recorded a drop in assets under management.

In its full-year results set to be published this week, total operating expenditure fell from £21,200 in 2016 to £19,281 in 2017, while operating profit rose from a loss of £62,000 in 2016 to a profit of £994,000. Pre-tax profits stood at £1.2m after all staff bonuses compared to profit of £12,000 in 2016. Neptune returns to profitability in H1 after 2016 loss Robin Geffen (pictured), CEO and founder of Neptune, commented: "The actions taken by the management team have borne fruit in 2017, with strong fund performance across the range underpinned by an efficient and cost-controlled...