AssetCo AUM rises 16% as it cuts annual losses by more than half

£2.8bn AUM in the year to 30 September

AssetCo has posted a 16% year-on-year increase in its assets under management, which reached almost £3bn in the year to 30 September 2024, along with a significant reduction in operating losses, as the firm moves closer to profitability.

Assets rose to £2.8bn from £2.4bn in the year to September, with the company pointing to the rise bucking industry trends. UK investor funds under management in active equities experienced persistent net outflows across the industry for the financial year 2023/24. AssetCo to overhaul share structure under plans to rebrand as River Global An initial fund raising that brought in nearly €400m (£335m) helped boost AssetCo's AUM, and benefited two funds managed by Jonathan Knowles, previously of Capital International Group, in a joint venture with his firm Compound Equity Group. Duri...