AssetCo posts 'modest' AUM rise despite 'toughest six months' for active equity firms

Cost savings

AssetCo has reported a rise in assets under management to £13.8bn for the six months to 31 March 2023, despite challenging market conditions over the period.

In comparison, the company had £9.9bn AUM at the end of March last year. In its half-year results published today (14 June), the firm said the vast majority of AUM were contributed by Parmenion at £10.6bn; excluding them, AssetCo's assets under management jumped from £503m in March 2022, to £2.6bn in September 2022 and then to £3.2bn in March 2023. AssetCo agrees £4.1m acquisition of Ocean Dial Asset Management Annualised revenue was also up for the period at £17.9m from £12.9m at the end of September. Losses followed a similar trajectory, from £9.3m in September to £13.8m at the e...